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Investors & landlords
To choose the Safe Harbor Election, you will just need to add the purchase of the door as an asset. To do this after you walk through the steps of entering your rental property you will get to a screen for expenses and will enter the door as a miscellaneous expense by entering the door description and price in the boxes provided. There is not a special form that it will be reported on. It will simply go on your Schedule E as other expense.
By entering the cost of the door as an expense you are taking the election.
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March 14, 2023
1:34 PM