Furniture Depreciation

[HappyHeartsChildCare]

We bought new bedroom furniture for our son's bedroom. His room is being used to store toys and supplies for the childcare because he has the biggest closet but the least amount of clothes.
Can we depreciate or deduct the cost of the furniture? They are over $200 per item and less than $2000 total.
If we can depreciate or deduct these costs, where do I enter it in Turbo Tax?

Thanks!

[TomCopeland]

Originally Posted by HappyHeartsChildCare

We bought new bedroom furniture for our son's bedroom. His room is being used to store toys and supplies for the childcare because he has the biggest closet but the least amount of clothes.
Can we depreciate or deduct the cost of the furniture? They are over $200 per item and less than $2000 total.
If we can depreciate or deduct these costs, where do I enter it in Turbo Tax?

Thanks!

You can't deduct the furniture because you aren't using it for your business. If daycare children slept on the bed, you could deduct part of the cost of the bed. Same thing with a dresser. But, since you are only using the room for storage you can count the space as part of your time-space % calculation, but you can't deduct any of the furniture.

[HappyHeartsChildCare]

A school age kid uses the room for quiet time when he is here. He doesn't nap, but will be on the bed to read or play with electronics. Does that count? He is on the bed because there are no chairs in my son's room.

[TomCopeland]

Originally Posted by HappyHeartsChildCare

A school age kid uses the room for quiet time when he is here. He doesn't nap, but will be on the bed to read or play with electronics. Does that count? He is on the bed because there are no chairs in my son's room.

Yes, that counts. Count the bed.