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R
ron2024
February 26, 2024
Question

De Minimis Safe Harbor

  • February 26, 2024
  • 1 reply
  • 0 views

If i elect to use "De Minimis Safe Harbor" 

 

1) Should i write off these assets as expense under Other Expenses Section ?

 

2) Can i choose which asset to use "De Minimis Safe Harbor" ?

 

3) Without AFS, What if some asset less than $2500, and other over $2500. I should write off those under 2500 as expense, and over 2500 as deprecation? right?

 

4) Can i still use 179 for those over 2500, if i use "De Minimis Safe Harbor" for those under 2500?

    1 reply

    A
    Anonymous_
    February 26, 2024

    See https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations#Whenandhowdoyoumakeanelection

     

    All items that qualify under the rule (and you elect to be treated as such) are subject to the rule (i.e., you cannot pick and choose).

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