Depreciation Confusion

[Grape Ape Mom]

I am systematically going through Tom's book and filling out the forms by hand before using Turbo Tax to complete my tax return. I am a bit confused on the depreciation.

We had to replace our dishwasher in 2014 and paid $450.00 at a scratch and dent store for a new one.

We also bought a new router for the internet from Verizon for $105.98 and a new Galaxy Tablet for $248.96.

Based on what I'm reading, and since I have a safe harbor election form filled out, does that mean I could expense all of these items in one year under the appropriate expense accounts on Schedule C? Or do I have to depreciate them?

[Michael]

Tom will probably chime in but I think your solution is a Time Space Percentage. Here are previous threads that may be helpful.

https://www.daycare.com/forum/tags.php?tag=time+space+percentage

[Grape Ape Mom]

Yes, I know to use the Time/space %. I just wondered whether to depreciate them or claim them as expenses. Thanks!

[TomCopeland]

depreciation

I am systematically going through Tom's book and filling out the forms by hand before using Turbo Tax to complete my tax return. I am a bit confused on the depreciation.

We had to replace our dishwasher in 2014 and paid $450.00 at a scratch and dent store for a new one.

We also bought a new router for the internet from Verizon for $105.98 and a new Galaxy Tablet for $248.96.

Based on what I'm reading, and since I have a safe harbor election form filled out, does that mean I could expense all of these items in one year under the appropriate expense accounts on Schedule C? Or do I have to depreciate them?

Any item costing less than $500 does not need to be depreciated. Multiply these items by the business portion and deduct them on Schedule C. Put them on the back of the form as "Household Item."