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Forgot to file De Minimus Safe Harbor Election

Hello,

 

Quick question.  I already filed my 2020 taxes but forgot to elect the De Minimus Safe Harbor $2,500 for two of my five rental properties for a new garage door ($800), blinds ($1,800), fridge ($1,900), washer ($500) dryer ($500) and garage door opener ($250).  I usually use TT Premiere (rental properties and investments) and since I have never been able to find the election forms I just physically mail it in to the IRS each year.  I expensed each of these items under either other or repairs.  Since I did not file my Election what should I do?  Any suggestions?   Also, any suggestions on how to find how to make the election in TT Premiere?

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4 Replies

Forgot to file De Minimus Safe Harbor Election

By the act of expensing those items you made that election automatically ... there is nothing more to it than that.    

Carl
Level 15

Forgot to file De Minimus Safe Harbor Election

Do nothing unless the IRS questions it. If the IRS questions it do "exactly" whatever the letter you get from the IRS tells you to do. No more. No less. I myself expensed a new washer/dryer 2 years ago and forgot to include the statement. So far, I've heard nothing from the IRS and I'm not losing sleep over it.

 

Forgot to file De Minimus Safe Harbor Election

Thanks for reply. Much appreciated

Forgot to file De Minimus Safe Harbor Election

Thanks - thats what i think i will do.  I have caught mistakes in the past and i have always done nothing and never been audited or asked questions.  Regards 

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