I completed my return, and when previewing it I noticed that there was an 'Election Out of Qualified Economic Stimulus Property' form at the end. It is regarding the Special Depreciation Allowance Elections under IRC Section 168(k)(7).
When I did my taxes for 2022, I depreciated two items under $2500 under section 179.
Now I am not sure if this 'Election Out of Qualified Economic Stimulus Property' is correct or not.
Last year I also depreciated some items under section 179, but there was a different form at the end of the return - a 'De Minimis Safe Harbor Election'.
So which election is supposed to be made to go along with my section 179 depreciation, the Election Out of Qualified Economic Stimulus Property or the De Minimis Safe Harbor Election? And how do I find the correct election in turbotax?
