Schedule E Question
Line 15 gives an option to deduct supply usage needed for your your business. At what point can you claim these deductions? For instance, we need a computer and would obviously use it to search MLS, do research, set up our LLC, do our legal forms, etc. Can the receipt of this purchase be deducted even if it is after the purchase date of our first rental?
Computers have to be depreciated according to a set schedule, unless you use the Section 179 deduction.
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