I have a few assets for which I took a section 179 deduction last tax year (2018). They were all items that cost less than $500 each. IIRC, when I ran Turbo Tax Business last year, it suggested that I take a de minimis safe harbor election for items under some threshold. I wasn't really sure what this election was last year, and I chose not to take it. However, Turbo Tax still did prepare a Section 1.263(a)-1(f) for me.
This year, I'm taking this election for items purchased in 2019. I was wondering if I can convert assets for which I've already taken a section 179 deduction in the 2018 tax year into de minimis safe harbor expenses this year. Obviously, I don't intend to expense these items again this year. I just want to retroactively convert them to de minis safe harbor as if I took the election last year.
