Thanks! Good to know it's for this year only. Great link, too! As non-accountants, we understand only 1/2 of IRS verbiage. Did see the de minimis safe harbor election applies to all deductions, like supplies. Now worried listing our pencils, paper clips, etc under supplies on Sch C was correct. It said < $2,500 didn't need a formal AFS, accounting method. But later it said filing the de minimis safe harbor doesn't mean you've filed form 3115 notice of change in accounting method to safe harbor.
☹️ It's all so messy. We would've chosen 5-yr depreciation over this. That is if the safe harbor election was sent because we took the100% first year special depreciation. Does anyone know who to call at Turbo Tax to find out why they did this? What happened to transparency? It was one sheet, 1/4 pg, we found after we filed. Experts online didn't agree (shocker!) and we didn't find the link you sent to IRS. So thanks!
