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D
dramondog
February 4, 2024
Question

de minimis safe harbor election or asset for S corp

  • February 4, 2024
  • 1 reply
  • 0 views

I purchased computer and monitor for my s-corp business in 2023. Each item is less than $2500. Can I use de minimis safe harbor election to treat it as business office expense or do I still have to list them under asset? 

1 reply

M
MinhT1
February 4, 2024

Yes, you can expense these items if you make the de minimis safe harbor election.

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D
dramondogAuthor
February 5, 2024

Thank you. If I expense it under the election, do I still need to list them as assets under my balance sheet though? 

DawnC
DawnC
February 5, 2024

No.  Only list assets you are depreciating in the assets section.   

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