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Old 03-06-2018, 05:07 PM
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SherriW SherriW is offline
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Default Where to Claim Sectional Theater Seating

Opened my Family Childcare in August 2017. Attempting to do my own taxes with the help of Tom Copeland's Tax Workbook and Organizer (wouldn't be able to do them without this book!)

I purchased a 7 piece sectional theater-seating sofa October 21, 2017 totaling $3001. On the receipt each piece is broken out by price. The most expensive piece is $603. The least expensive piece is $145. Can this be claimed on schedule C Part V as "De Minimus Equipment" as separate pieces even though they must be connected as one sofa for operation? It's in my gameroom where I keep my daycare kids and i will apply the T/S percentage on these totals.

If this is the correct place to put these deductions, how do I list them? Seven lines as follows: "armless recliner" (3 pieces); "wedge" (2 pieces); "Left arm recliner"; "Right arm recliner"?

Or do i list them all 7 as "De Minimus Equipment" on 7 separate lines?

OR do I lump it all together as one "De Minimus Equipment" with the total of $660.37 (the total after i've applied my T/S%)?

I appreciate any advice!
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Old 03-07-2018, 09:56 AM
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TomCopeland TomCopeland is online now
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Originally Posted by SherriW View Post
Opened my Family Childcare in August 2017. Attempting to do my own taxes with the help of Tom Copeland's Tax Workbook and Organizer (wouldn't be able to do them without this book!)

I purchased a 7 piece sectional theater-seating sofa October 21, 2017 totaling $3001. On the receipt each piece is broken out by price. The most expensive piece is $603. The least expensive piece is $145. Can this be claimed on schedule C Part V as "De Minimus Equipment" as separate pieces even though they must be connected as one sofa for operation? It's in my gameroom where I keep my daycare kids and i will apply the T/S percentage on these totals.

If this is the correct place to put these deductions, how do I list them? Seven lines as follows: "armless recliner" (3 pieces); "wedge" (2 pieces); "Left arm recliner"; "Right arm recliner"?

Or do i list them all 7 as "De Minimus Equipment" on 7 separate lines?

OR do I lump it all together as one "De Minimus Equipment" with the total of $660.37 (the total after i've applied my T/S%)?

I appreciate any advice!
You can deduct the time space % of each individual furniture item you purchased and deduct them in one year because they individually cost less than $2,500. Also, since the purchase was after September 27, 2017, under a new rule you can deduct anything in one year (except for a home or home addition) regardless of its cost! List this as "furniture" under Other Expenses on Schedule C, line 27a.
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Old 03-07-2018, 01:46 PM
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SherriW SherriW is offline
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Perfect. Thanks so much. Your tax workbook is an awesome tool that has allowed me to do my own taxes. Thanks for that too!
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