You'll need to sign in or create an account to connect with an expert.
You can claim up to 80% of the cost of a business asset under Special Depreciation.
Or you can take the Safe Harbor Election and report the entire amount as a business expense. For this option, look for the question at the beginning of the Assets/Depreciation section, "Do you want to go directly to your asset summary?" Click no to review/change your answers to the annual election questions.
You can claim up to 80% of the cost of a business asset under Special Depreciation.
Or you can take the Safe Harbor Election and report the entire amount as a business expense. For this option, look for the question at the beginning of the Assets/Depreciation section, "Do you want to go directly to your asset summary?" Click no to review/change your answers to the annual election questions.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
DFS1
Returning Member
gssulte7
Level 3
csdl2024
Level 3
Harper22
New Member
pagirl65
Returning 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.