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Old 04-14-2010, 06:46 PM
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Join Date: Apr 2010
Posts: 5
When to claim items as assets, and when not to

I am confused about when I should list certain business expenses as depreciable assets, and when I shouldn't. Consider the following examples:
iPod Touch $329
Antivirus software $ 39
X-Box $299
Memory Card reader $99
Visual Studio software $799

So, I guess my question is, how do I know when I should list something as a depreciable asset, and when I should just lump it under some other category? In the past, I've just lumped all software purchases, regardless of price, together, and claimed the total under a miscellaneous item on my Schedule C called SOFTWARE. I've also lumped most "hardware" stuff together, and listed as HARDWARE. But, I want to do things correctly.

Any insights?

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