DavidD66
Expert Alumni

Get your taxes done using TurboTax

You indicated to the program that you have assets with a cost less than $2,500 each and opted to make a "de Minimus Safe Harbor" election.  In other words, you elected to"expense" those items rather than set up as assets and depreciate them.  After answering the questions to determine if you can make the election and ndicating that you want to, on the page with "Now, let's review each item you bought" you have to select between "Every item I bought cost $2,500 or less." or "Some items I bought cost $2,500 or less and some cost above $2,500.   If you select "Every item I bought cost $2,500 or less." The program exits the Asset section because you just indicated that you don't have any assets to enter.  If you indicate "Some Items..." it will stay in the Asset section and guide you through entering your assets.  If you don't have items with a cost greater than $2,500, then you can go to the appropriate expense category and enter your items that cost $2,500 or less that you elected to expense under the de Minimus Safe Harbor election.   

 

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