How can I claim a business item expense using DeMinims safe harbor election in Home and Business version?

Forum|Forum|3 years ago
February 8, 2023
1 reply
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I purchased a $1700 laptop for my business and would like to report it as the business expensive per DeMinims safe harbor election.

I use Home and Business version. I went to BUSINESS tab, then selected 'Let's write off some business expenses", I selected 'Other Miscellaneous Expenses'. I added description and amount for the laptop, but there was no place or checkbox that allowed me to let IRS know I planned to use "DeMinims safe harbor election" for this laptop.

Please advise.

Best answer by Anonymous_

Enter the laptop in the Business Assets section of the program to make the election.

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A

Anonymous_Answer

Employee

Enter the laptop in the Business Assets section of the program to make the election.

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M

manbeingAuthor

Employee

Yes, I selected these options in the Business Assets Section.

The turbotax said 'OK. Make sure these purchases are entered as other miscellaneous expenses, not assets" (see the screenshot below)., then I clicked 'Continue' button and it returned to Business Main page. I selected Business expenses --- other miscellaneous expenses --- enter the info ---- Save the data.

but the De Minimis Safe Harbor Election form didn't create for me.

I clicked right upper corner -- Forms icon and didn't find De Minimis Safe Harbor Election form there.

The laptop just listed as an expense with other expenses on Schedule C.