Small taxpayer safe harbor reporting
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New Member

Small taxpayer safe harbor reporting

everytime i go through the questions instead of sending me to miscellaneous expenses it sends me to assets.  should i just manually put these in as miscellaneous expense, but then how does the safe harbor form get generated??

7 Replies
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Level 12

Small taxpayer safe harbor reporting

Answer updated - make the election and then go back and add misc. expenses.  Images attached.  

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Level 12

Small taxpayer safe harbor reporting

It is sending you to Assets because that is where you make the safe harbor election.  When you start the Assets section, TurboTax will ask you if you made any purchases of less than $2500.  Answer YES.  This will trigger the election questions, see image below.   After you make the election, you can enter these expenses in the Expenses sections, see image attached.   Click through the screens and Misc. expense will be the last screen, see image attached.  You will still be prompted to list assets costing over $2500 in the Assets section.  

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New Member

Small taxpayer safe harbor reporting

thanks  i don't see the business tab on my TT premier.  this is for rental property. is this a different version?
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Level 12

Small taxpayer safe harbor reporting

My screenshots are from the desktop version.  You will see Rental and Royalty section under Wages & Income but it is the same screens - they just look different - I will add some screenshots of the Online version.  That is my bad - I thought you were using the Desktop, but I see you are using Online now...
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Level 12

Small taxpayer safe harbor reporting

Updated images 🙂
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New Member

Small taxpayer safe harbor reporting

thank you.  so i get those screens but i don't get sent to the miscellaneous one.  i have to go to it myself.  is that how you do it?  
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Level 12

Small taxpayer safe harbor reporting

Yes, you have to go there yourself.  And yes, look at those screenshots - you will go to rentals, then expenses, scroll through and the last screen of the ''Expenses'' section ask about miscellaneous expenses - and this is where you will put all of your ''safe harbor'' election items......under 2500....the things that cost over 2500  still go in assets...
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