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June 1, 2019
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How would I categorize a deduction for an aftermarket warranty?

  • June 1, 2019
  • 1 reply
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I've purchased aftermarket warranties for a variety of assets and supplies for my business. How would I categorize these when entering my deductions. Would they go under supplies? Legal and Professional fees? Other miscellaneous fees?

Best answer by LJane29

They can either be added to the basis of the item they were purchased for or I would recommend you classify them an insurance.

1 reply

LJane29Answer
June 1, 2019

They can either be added to the basis of the item they were purchased for or I would recommend you classify them an insurance.

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