Hi there. I have a small business, and I've changed some of what I create and therefore have sold off a couple of printers, ink, and fabric I won't be using (along with other small items I previously used or purchased for the business). All of these were claimed as expenses in previous tax years, but none of them were claimed under T2125 (the printers anyway as they were less than $400 each). How do I account for the money I received for these items I've now sold? I assume they don't count as a sale but I'm not sure where else to put the items. Thank you so much.
To be able to give you the proper information, can you please tell us which type of software you are using? Is it TurboTax Online or Desktop?
And, you said small business, is it a incorporated business?
Thank you for choosing TurboTax.
yesterday
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