I have purchased assets such as appliances and carpeting under $2500 so how do I deduct them under 179?

[darrellanned]

There is no "My Account" in the blue section to click on. I also tried a suggestion from mmarc a year ago to click on the over $2500 option even though nothing was over $2500. Still Turbotax wants to depreciate a $300 dishwasher.

[MinhT · Accepted solution]

You can fully deduct any asset costing $2,500 or less under the de minimis safe harbor election. This is better than claiming a section 179 deduction as section 179 deductions are subject to recapture.

In TurboTax, enter the items as assets. TurboTax will ask Did you buy any items costing $2,500 or less?. Answer Yes and follow the interview to enter the items and make the de minimis safe harbor election.

Please see this IRS document for more information:

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