- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
I purchased a number of items for my rental property that I want to expense. All are under $2,500 each.
I have done this in previous years but in 2020 Premier I can find where to enter the items. If I say yes that all are under $2,500 it asks me to review the assets that I have entered and capitalized in previous years.
I saw the thread initiated by NOLA5678 but his solution does not appear for me.
My TTax is fully updated.
Any advice?
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
Include them as miscellaneous expenses with the notation of DeMinimus Safe Harbor.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
If they are under 2,500, you can expense them so they would not be listed as assets, the amounts would be listed as expenses.
Please look at your schedule E to see if the expenses are listed.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
Thanks for the response. I am earlier in the process. Where do I enter the items under $2,500 that I want to expense?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
Include them as miscellaneous expenses with the notation of DeMinimus Safe Harbor.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Rental expenses under $2,500
I know how to do that. Thank you.
Still have questions?
Make a post