DawnC
Expert Alumni

Deductions & credits

You can leave the printer in the Miscellaneous Expense section.   @david_a_straight   

 

When items are purchased for a business, a decision is made whether it’s an expense that you deduct all of the cost now, or you deduct the cost over multiple years (depreciation).

There are two elections you can make. One is used to deduct items with a cost of $2,500 or less instead of depreciating. 

 

Items that cost $2,500 or less can be taken as an expense this year and don’t have to be depreciated over time. To do this, an annual election must be made. It’s called the De Minimis Safe Harbor election.

 

How do I do this with TurboTax?  If you put the printer in expenses, you have already successfully done this!   The link just further explains the options you have.  

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