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Safe Harbor Election or Section 179: First Year Expensing

Angel Tr33
Level 3

Hello All,

Where do I expense using the Safe Harbor(De Minimis) Election on ProSeries Professional?

I have a Barber client that purchased new scissors, blow dryer, hair clippers and trimmers, and shaving machine.  He wants to take 100% deduction for the year he made the purchase (2019).

I see where to elect section 179, but I don't having trouble electing the Safe Harbor(De Minimis) option.

Any help or guidance will be greatly appreciated.

Thanks

0 Cheers

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3 Comments 3
IRonMaN
Level 15

Show the items as a supplies expense


Slava Ukraini!
itonewbie
Level 15

The election statement can be found under Miscellaneous > Elections.  Double-click on Line 20 and check the box for the election.  Since this is an expensing provision, you will not make any input for depreciation.

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Still an AllStar
abctax55
Level 15

How much did *EACH* items cost?  Are we talking $ 100 each or $ 1000 each?

HumanKind... Be Both