Yes, if the appliances you purchased cost less than $2,500 each, you may report the cost as a general business expense. Total cost would include tax, delivery, and installation. The extended warranty is related to the appliance, so include that in the total cost.
To make the Safe Harbor Election in TurboTax Business, open your return and click on the "Other" tab under Federal Taxes (at the end). Continue through the questions until you see Tax Elections. Click Yes, then check the box for "Election for the De Minimis Safe Harbor." In this way, a special election statement is added to your return, as required by the IRS.
Note that you are limited to expensing $2,500 per asset because you don't file financial statements with the SEC.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
This answer has been verified for accuracy by an Intuit expert employee
