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March 24, 2021
Question

I have a supplier who billed me for repair cost for operating equipment

  • March 24, 2021
  • 1 reply
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this is equipment used for oil and gas

1 reply

March 24, 2021

Are you receiving royalty income from an oil and gas property? You can deduct expenses connected with your royalties, including repairs. TurboTax automatically calculates depletion.

 

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March 25, 2021

I am an agent for a technology manufacturer company..  they repair equipment for my clients and they charge me and I charge back my customers..  I claim my charge to my customers as income, where do I claim the repair cost i got charged by the manufacturer.  the same happens to technical support and spare parts.

ColeenD3
March 27, 2021

Claim it on Schedule C as a repair cost as indicated above.