"Safe Harbor Election for Small Taxpayers" form not showing as part of return that will be printed??

[joannabanana6]

On one of our rental properties, I have improvements that qualify under the "Safe Harbor Election for Small Taxpayers" and have entered them as such so that they are 100% depreciated in 2018.

I know from other posts that that form won't show up on the Forms list, but when I preview the return to be printed, shouldn't it show up in there as one of the items to be printed??  

Or do I have to create this manually and mail my return so it's included?

[tagteam · Accepted solution]

Note that you would check the election in Forms Mode which would bring up the election form. 

Then you would enter a description on that form and also a description and dollar amount in other expenses for your rental property.

[tagteam]

" I know from other posts that that form won't show up on the Forms list"

It should appear both in the Forms list (in Forms Mode) and in the list of the forms to be printed with your tax return (see screenshot).

Ensure that you have completed all of the appropriate steps in the interview section of the program (specifically, the asset entry section) including, which is vitally important, entering a description of the property eligible for the SHST.

[joannabanana6]

Thank you for your response.  I am doing this in the Business software, not Home and Business, so maybe that's the difference?  These are the steps I followed:

Rental Real Estate Assets (Depreciation)
Enter Assets (I filled in description & date purchased & clicked 100% used for business)
Describe asset: "Rental Real Estate Property"
Categorize asset: "Land improvements" (no other category applied)
Filled in cost of asset

  *******
Then this screen appears:

Special Depreciation Allowance

Tax relief provided by the 2017 Tax Cuts and Jobs Act qualifies this asset for a special depreciation allowance deduction of 100% of the asset's cost in its first year of use.

You may elect not to take the additional 100% depreciation deduction.

Do you want to claim the special depreciation allowance?
   *******

I answered Yes; the next screen shows Asset Summary and that the full amount is being depreciated.

This generates Form 4562 (Depreciation and Amortization) which lists the amount in the"Special Depreciation and Allowance" section.

But no SHST form is generated, so maybe I don't need it?

[tagteam]

You don't but it appears as if the election has to be made in Forms Mode with TurboTax Business.

I have included an additional answer with a screenshot.

[joannabanana6]

Thank you!  🙂