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How to enter Equipment Assets used in Passive Business
This client's business leases equipment (5 yr MACRS property); does this equipment have a different entry screen than "Ordinary Income" assets for the Form 4562?
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Why are you thinking that the depreciation wouldn't be an expense offsetting ordinary income? You don't say what type of entity you are dealing with, but equipment rental goes on schedule C, not E if we are talking about a 1040 return.
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