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In TurboTax Online, delete by going to the left menu, Tax Tools. Select Tools and Delete a Form. Scroll to find Section 1.263(a)-1(f) De Minimis Safe Harbor Election and Delete Form.
If you are in TurboTax CD/Download, go to forms mode and double click Open Form. In the search box, type election, scroll down to select De Minimis Safe Harbor Election. When it opens, uncheck the box.
This election is made annually. To change it from year to year does not require Form 3115 Change of Accounting Method. Without it, capital assets $2,500 and less will be depreciated over their useful lives instead of expensed.
See overview details from the IRS: Safe Harbor Election for Small Taxpayers, also listed below:
The requirements of the safe harbor election for small taxpayers are:
What are the most important exceptions from and inclusions in the routine maintenance safe harbor?
How do I stop safe harbor statement?
TurboTax Premier CD-Rental Safe Harbor Statement is being generated by the software
Followed instructions as follows: Open Form, typed election and selected De Minimis Safe Harbor Election
box was not checked.
I noticed for TurboTax online it instructed to delete the form.
Thanks
You can delete the Rental Safe Harbor statement in TurboTax CD/Download using these steps:
i follow all of the steps and it is still there. anyone else have that problem??
Change your assets answer. The program will not delete information it feels is important. You must have marked safe harbor as you were going through the rental. Return to the rental and uncheck that you are using the safe harbor method. Then you can delete the worksheet. Please review What can I expense or depreciate with the business safe harbor election? before changing your asset information.
I unchecked the box for the safe harbor election and the form is still showing up when I go to file the forms. Why isn't TurboTAx just deleting the form itself when I uncheck the box? I am concerned about deleting the form (even though the box is not checked), b/c I'm worried it will conflict with something else I"m not seeing. The form should be deleted when I uncheck the box and all calculations adjusted accordingly.
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