For example, if I purchase a computer for $2,600, does the $2,500 amount get deducted in the first year and then the remaining $100 get depreciated over the next several years?
Also: does sales tax and shipping get included in the asset amount for this calculation?
You'll need to sign in or create an account to connect with an expert.
No. If the total cost of the asset (including sales tax and shipping) is over $2500, it does not qualify for the De Minimis Safe Harbor election. It would all need to be depreciated.
No. If the total cost of the asset (including sales tax and shipping) is over $2500, it does not qualify for the De Minimis Safe Harbor election. It would all need to be depreciated.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
md455
New Member
ouida62714
New Member
BenedictaIris
New Member
-kendunn
New Member
Patti B Thomas
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.