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March 27, 2023
Question

I file sched C. I purchased a printer and expensed it (vs depreciate it). TT didn't create the de minimis safe harbor statement. How do I get web-based TT to generate?

  • March 27, 2023
  • 1 reply
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In prior years, the web-based TT generated a de minimis safe harbor statement.  Last year, it didn't generate one to get filed.  And this year, I am having the same issue.  How do I trigger TT to generate?  I go to the Asset Section under self-employed and answer the questions that direct me back to put the expense (e.g., printer) under other expenses category and not to depreciate.  But still no statement generated for the de minimis safe harbor for filing when the tax return is readied for my review.

1 reply

March 27, 2023

In TurboTax Online, go into the Assets section in Expenses. When you arrive at the page Did you buy any items for any business, rental property and/or farm that cost $2,500 or less in 2022? Answer Yes.

 

On the following, you can make the de minimis safe harbor election and TurboTax will include the election statement in your tax return.

 

Please see the attached screenshot.

 

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HanBanAuthor
April 2, 2023

Thank you!