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M
melgersma
February 19, 2024
Question

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?

  • February 19, 2024
  • 1 reply
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    1 reply

    TurboTaxSusan
    TurboTaxSusan
    February 19, 2024

    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?

     

     

    M
    melgersmaAuthor
    February 19, 2024

    Ok thank you! Yes, I bought the square terminal.

    TurboTaxSusan
    TurboTaxSusan
    February 19, 2024

    The Square terminal can be claimed as a fixed asset under class 50. 

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