Appliances purchased for Rental Property

Forum|Forum|2 years ago
April 10, 2024
1 reply
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Can I use the A de minimis safe harbor election for the appliances purchased for rental property?

If so How do I report this under Pro-Series? Will I need to setup an asset and than check any box to take 100% depreciation? or should I just show the total appliances cost under other expenses in schedule E?

Best answer by DavidD66

It is not a form. It is a written statement that is included with your tax return. In TurboTax, when you start to add fixed assets the program asks if you have assets that cost less than $2,500. If you answer yes, the interview continues and you can make the election. In Pro-Series it is probably a check box, but I don't know where.

DavidD66

Yes, you can use the de minimus safe harbor to expense appliances bought for a rental property, as long as the appliance cost less than $2,500. This is a TurboTax forum, not Pro-Series. You make the election and then you enter the appliances costing under $2,500 each as an expense. You do not set them up as assets.

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