RMT here. 2023 was my 1st year renting a space so I had expenses for equipment. Are square terminals and sheets considered fixed assets? How do I go about inputting?
03654
3 Replies
TurboTaxSusan
Moderator
Feb 19, 2024 3:18:26 PM
The expense for the bed sheets can go under Line 8811 – Office stationery and supplies, which is for items the business used to provide goods or services.
The Square terminal would depend - did you buy it or are you renting it?
melgersma
New Member
Feb 19, 2024 3:23:10 PM
Ok thank you! Yes, I bought the square terminal.
TurboTaxSusan
Moderator
Feb 19, 2024 3:32:09 PM
The Square terminal can be claimed as a fixed asset under class 50.