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Business & farm
You can fully deduct any asset costing $2,500 or less under the de minimis safe harbor election. This is better than claiming a section 179 deduction as section 179 deductions are subject to recapture.
In TurboTax, enter the items as assets. TurboTax will ask Did you buy any items costing $2,500 or less?. Answer Yes and follow the interview to enter the items and make the de minimis safe harbor election.
Please see this IRS document for more information:
https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations
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‎June 4, 2019
12:39 PM