I have several electronics purchases made to support my Internet business and traveling to give workshops. I don't see a clear category for these expenses on the Schedule C expenses--unless I use the Miscellaneous Category for these.
You'll need to sign in or create an account to connect with an expert.
You can report these expenses in the Miscellaneous category, if you do not see a better description, and you probably want to elect to expense small assets, click here for entering the election in Turbotax.
I know this is late, but it might help others. (Note: I'm not a tax professional, but another one like you trying to bumble through taxes myself.) It probably IS the right link. The election to expense items under $2,500 instead of capitalizing them IS called de minimis safe harbor. (In other words, it's so small, let's not bother with that depreciation mess.) Here's a link that explains it: https://www.thetaxadviser.com/issues/2024/may/the-de-minimis-and-routine-maintenance-safe-harbors.ht...
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mwelz85
New Member
zuper_one
New Member
noel-aandn-org
New Member
kobiBear
Level 2
cgni920770
New Member