I bought a new piece of equipment that costs less than $3,000. Does it need to be tagged?
Equipment purchased by or gifted to MIT that has an acquisition cost of less than $3,000 is considered “minor equipment.” Within the category of minor equipment, only computers (including laptops and servers) with an acquisition cost greater than $1,000 and charged to general ledger account 421827 (minor equipment) will be tagged and entered into the property database. All other laboratory, test, office, and general purpose minor equipment will not be identified and tagged. This policy, which was instituted July 1, 2008, does not affect MIT’s Equipment Capitalization Policy, the tagging and control of capital equipment, or minor equipment where sponsors require tracking.
Related Questions
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- I bought a new piece of equipment that costs less than $3,000. Does it need to be tagged?
