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srwillms
New Member

How to enter depreciable asses?

I'm working on my schedule C. I've answer the questions for assets and depreciation but never get a form to enter my depreciable assets. All are under 2500.

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Accepted Solutions
Coleen3
Intuit Alumni

How to enter depreciable asses?

If you have elected either the De Minimis Safe Harbor Election or the Improvements election, all you need to do now is expense them. You can enter as miscellaneous deductions with an explanation. It will be found under the 'other common business expenses' section.

By claiming and filing the Safe Harbor Election, the IRS is notified that purchases under $2500 each are reported as expenses rather than depreciated. This election is included with your tax return.


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1 Reply
Coleen3
Intuit Alumni

How to enter depreciable asses?

If you have elected either the De Minimis Safe Harbor Election or the Improvements election, all you need to do now is expense them. You can enter as miscellaneous deductions with an explanation. It will be found under the 'other common business expenses' section.

By claiming and filing the Safe Harbor Election, the IRS is notified that purchases under $2500 each are reported as expenses rather than depreciated. This election is included with your tax return.


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