Question
So you cannot expense a item worth over $2500 on your schedule C for the tax year? It must be depreciated?
I have business expenses for my Schedule C and it says on TurboTax that if the items are below $2500 each; then you can use "De Minimis Safe Harbor Election" to write it off 1-time as an expense for the year. But if the item is over $2500, you must "depreciate" the item for large purchases?
So I cant put all my purchased items that are below $2500/above $2500 on the same business expense category on my Schedule C?
