I own a rental property and pay tax as an individual (Form 1040). According to Turbotax, I have the option to make a De Minimis Safe Harbor Election and expense a small capital expenditure. I made the election and already filed the return. I note that Turbotax entered the special depreciation on line 14 of Form 4562. But the IRS Form 4562 instructions for Line 14 say nothing about using this line for expensing small capital expenditures. How does Turbotax know this is the correct line? How is someone who does their taxes manually supposed to know how to report this special depreciation?
I looked into this because my business partner does not use tax software, and I am advising him on how to fill in Form 4562.
