AmyC
Expert Alumni

Deductions & credits

Materials and supplies that last over 1 year and cost more than $200 are normally depreciated. You want to go to the asset section and begin going through it. It will ask if you spent less than $2,500 and you will select yes - if you want to use the de minimis safe harbor for these expenses and write them off this year. 

 

Read about the de minimis safe harbor just to make sure you understand the rules. Keep all receipts for your business. I recommend digitally since paper deteriorates.

See: Tangible Property Regulations-Frequently Asked Questions

@tianhongwei 

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