What is the total amount of De minis Safe Harbor expenses can we claim on our joint return for my wi

WilliamP

What is the total amount of De minis Safe Harbor expenses can we claim on our joint return for my wife's daycare business and our two rental properties?

AlexO

Hello, WilliamP!

That is a great question!

There is not a maximum amount to the total deduction claimed via the safe harbor. However, there are maximum amounts for each particular item. This amount is $2,500 if you do not have an applicable financial statement.

For more information, see the link below:

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

WilliamP

Thanks AlexO.