Hello,
Client started a photography business at the beginning of 2019. He purchased a lot of equipment and supplies during the year.
Client also put camera equipment and computer servers purchased in 2018 for about $20k into use in the business. I don't believe equipment qualifies to be claimed as a startup expense on Schedule C or amortized over 15 years.
Even though he purchased all this in 2018 can the equipment be capitalized starting at the date in 2019 when he was open for business?
Thanks,
Debbie