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Daycare and Taxes>New Kitchen Appliances And Couch Set
Saffren 02:15 PM 02-16-2018
I purchased all new kitchen appliances, Stove,dishwasher, refrigerator, microwave and also a new couch set for my daycare area. All these items were around $1,000 each per item, I was reading if an item is under $2,500 we do not have to do depreciation on the item and can take the full deduction in this tax year. Do I just enter this in my supply section on the schedule C? Or do I still fill out the depreciation work sheets? I am not sure on the Schedule C to place this.
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Michael 04:20 PM 02-16-2018
Here are a couple of other threads on deductions and appliances: https://www.daycare.com/forum/tags.p...n+-+appliances
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TomCopeland 04:33 PM 02-16-2018
Originally Posted by Saffren:
I purchased all new kitchen appliances, Stove,dishwasher, refrigerator, microwave and also a new couch set for my daycare area. All these items were around $1,000 each per item, I was reading if an item is under $2,500 we do not have to do depreciation on the item and can take the full deduction in this tax year. Do I just enter this in my supply section on the schedule C? Or do I still fill out the depreciation work sheets? I am not sure on the Schedule C to place this.
Yes, you can deduct your time-space% of the cost of each item in one year, with no depreciation. Enter it on Schedule C, line 27a Other Expenses. Call it Furniture or Equipment.
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Saffren 09:02 AM 02-17-2018
Originally Posted by TomCopeland:
Yes, you can deduct your time-space% of the cost of each item in one year, with no depreciation. Enter it on Schedule C, line 27a Other Expenses. Call it Furniture or Equipment.
Thank you Tom, you answered my question, your reply was exactly what I needed to know. I was not sure after figuring the T/S cost deductions on the items where on the schedule C was the proper line to place the items!
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Tags:appliances, deduction - appliances, kitchen appliance
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