PatriciaV
Expert Alumni

Business & farm

You can claim up to 80% of the cost of a business asset under Special Depreciation. 

 

Or you can take the Safe Harbor Election and report the entire amount as a business expense. For this option, look for the question at the beginning of the Assets/Depreciation section, "Do you want to go directly to your asset summary?" Click no to review/change your answers to the annual election questions.

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