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Get your taxes done using TurboTax
@Anonymous wrote:
...the fridge broke down and I bought a new one for around $1200. Can I expense the whole amount or do I need to depreciate it for 5 years?
You can expense the entire amount by using the de minimis safe harbor election. Check the "Yes" box in the screen in the screenshot below and then deduct the $1,200 as a miscellaneous expense (Other expenses).
‎February 22, 2023
5:06 PM
971 Views