Small Business Deduction - where to I put a $100 printer?

[david_a_straight]

I've got a long list of office related expenses - but, I often unsure where or how to categorize everything when entering into TurboTax.  Maybe it doesn't matter that much?  I don't really know.   For, starters, I seem to be having trouble categorizing a printer, a few cables for monitors, a computer mouse - and similar.   I'm looking at the Business tab in Turbotax in the Business Income and Expenses area - where you enter your expenses for deduction.   Maybe the printer should be in the assets area?  I bought a couple of monitors  for work - I guess those go into the asset area.

[ColeenD3]

Yes, these are assets to be depreciated.

[david_a_straight]

I began placing the printer as an asset - but Turbo Tax recommended to put that expense elsewhere because the price was so low.  I think I stuck the $100 printer in Miscellaneous Expenses.     The other stuff that was more expensive were stuck in the assets area (I bought a pair of Monitors for around $1200) .

[DawnC · Accepted solution]

You can leave the printer in the Miscellaneous Expense section.   @david_a_straight   

When items are purchased for a business, a decision is made whether it’s an expense that you deduct all of the cost now, or you deduct the cost over multiple years (depreciation).

There are two elections you can make. One is used to deduct items with a cost of $2,500 or less instead of depreciating. 

Items that cost $2,500 or less can be taken as an expense this year and don’t have to be depreciated over time. To do this, an annual election must be made. It’s called the De Minimis Safe Harbor election.

How do I do this with TurboTax?  If you put the printer in expenses, you have already successfully done this!   The link just further explains the options you have.