There are two Safe Harbor elections available to owners of rental properties. The De Minimis Safe Harbor Election allows you to expense the cost of assets that would normally be depreciated over their useful life. If you qualify for the Safe Harbor Election for Small Taxpayers, you can expense up to $10,000 in repair/improvement costs that would otherwise be depreciated.
TurboTax will ask you about these elections at the beginning of the Assets/Depreciation section of Rental Properties. Look for the page "Do you want to go directly to your asset summary?" Check the box for "No, I want to review my answers to the annual elections questions." If you take either election, it will apply to all your businesses, rental properties or farms.
Once you take the election, enter the costs under Rental Expenses only. You will have nothing to enter under Assets/Depreciation.
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