No option for safe harbor in TurboTax 2019 for 112...
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texaslawyer
Level 1

No option for safe harbor in TurboTax 2019 for 1120S

I see in the help that at some point Turbotax 2019 is supposed to ask if I have purchases of $2,500 or less, so I can decide whether to take the safe harbor option (in lieu of Section 179 expensing). However, that question never shows up, whether under Depreciation of Assets or otherwise. I would just list them as an item under Other Expenses, but it look like a statement has to be attached to return that electing safe harbor or it doesn't apply. When I try going in through Add a Form and search "safe harbor" it only offers a real estate form that is inapplicable. (Looking at Safe Harboring a desktop computer.) I have latest updates to software, so old version is not the issue.

2 Replies
Critter
Level 15

No option for safe harbor in TurboTax 2019 for 1120S

 I would just list them as an item under Other Expenses,  YES you do just that.

 

but it look like a statement has to be attached to return that electing safe harbor or it doesn't apply.  Doesn't apply. 

AmeliesUncle
Level 11

No option for safe harbor in TurboTax 2019 for 1120S

Yes, the statement needs to be attached in order to qualify for the De Minimis Election.  It SHOULD be the first questions when you get into the "asset" section, but if it isn't there, you may need to contact customer support.

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