@KathrynG3
I am so confused.
Do the De Minimis Safe Harbor Election and the Safe Harbor Election for Small Taxpayers only apply to rental units? All the searching I do only speaks to rental property.
We own a sign business and made improvements to a building that we own (with a mortgage). The value of the building following improvements is $110-$120k. The total cost of the improvements was $36.718; however, only two individual receipts were over $2,500 ($16,397 and $5,100 respectively - both to our contractor). Do these items fall under the two Safe Harbor Elections or are the Section 179 items? If they are Sec. 179, are they eligible for the Bonus Depreciation? Is that the same as the Special Depreciation Allowance? Also, I don't see 'Building Improvements' in the Sec. 179 dropdown. This is a building that we use for our business - no leases involved anywhere.
Thanks for your help!
