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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?

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1 Best answer

Accepted Solutions
ColeenD3
Expert Alumni

Rental expenses under $2,500

Include them as miscellaneous expenses with the notation of DeMinimus Safe Harbor.

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4 Replies
KrisD15
Expert Alumni

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. 

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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?  

ColeenD3
Expert Alumni

Rental expenses under $2,500

Include them as miscellaneous expenses with the notation of DeMinimus Safe Harbor.

Rental expenses under $2,500

I know how to do that.  Thank you.

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