You'll need to sign in or create an account to connect with an expert.
Because of new de minimis safe harbor rules assets (used for more than a year to earn money in profit making activity) costing less than $2500, can be expensed instead of depreciated.
If you choose to depreciate the garage door opener, select Appliances, carpet, Furniture category and the software will use the 5 year class life.
Because of new de minimis safe harbor rules assets (used for more than a year to earn money in profit making activity) costing less than $2500, can be expensed instead of depreciated.
If you choose to depreciate the garage door opener, select Appliances, carpet, Furniture category and the software will use the 5 year class life.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cparke3
Level 4
Tax117
New Member
jhs45
New Member
TaxAdvice
Level 1
khowden
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.