De minimus safe harbor rules for S Corp with zero income and expenses

[jacqueline551]

I am filing an 1120S for my S Corp. I have zero income and expenses this year. Do I need to claim de minimus safe harbor since last year I claimed it?

[tagteam]

It is an annual election.

See https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations#Ad...

[Critter-3]

If you’re filing zero income zero expense return then you’ve got nothing to take the de minimus Election on so it’s a mute subject for the 2020 return.