Originally Posted by tenderhearts:
Thank you Tom, so does this apply to anything that is expected to be in business longer than a year, such as a futon we bought for the daycare (100% business) that cost $399.99? Depreciated or claim all in one year??
The $2,500 rule applies to any item, whether or not it lasts longer than one year. Deduct your 100% futon in one year.