Strongsilence-C PA
Level 10
04-03-2024
12:20 PM
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What is the de minimis safe harbor deduction amount?
Taxpayers with an applicable financial statement (e.g., audited financial statement) who file an annual election statement may deduct $5,000 per qualifying item under the de minimis safe harbor. For taxpayers without an AFS, the per qualifying item limit is $2,500.