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There are two different safe harbor elections.
The De Minimis Safe Harbor election lets you deduct the full cost of items worth $2,500 or less, instead of depreciating. You can also use the Safe Harbor Election for Small Taxpayers to expense the cost of improvements to business buildings if you qualify. These elections are available for Schedule C businesses, rentals, farms, and farm rentals.
For instructions on claiming the De Minimis Safe Harbor Election in TurboTax, select your product:
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Qualifying for QBI - safe harbor. See this link to see where these questions are asked. This is the safe harbor that requires 250 hrs of bookkeeping.
There are two different safe harbor elections.
The De Minimis Safe Harbor election lets you deduct the full cost of items worth $2,500 or less, instead of depreciating. You can also use the Safe Harbor Election for Small Taxpayers to expense the cost of improvements to business buildings if you qualify. These elections are available for Schedule C businesses, rentals, farms, and farm rentals.
For instructions on claiming the De Minimis Safe Harbor Election in TurboTax, select your product:
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Qualifying for QBI - safe harbor. See this link to see where these questions are asked. This is the safe harbor that requires 250 hrs of bookkeeping.
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