Entering de minimis assets

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Follow these steps when entering assets to accommodate the safe harbor threshold for deducting certain capital items under Notice 2015-82 External link . (What's this?)

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  1. Set the Situs to the PPT state.
  2. On the Depreciation tab, under Method, select Memo.
  3. On the Other tab, mark the Exclude memo asset from non PPT reports option.
  4. Complete association fields required for the PPT return. See the Personal Property Tax (PPT) Association: Quick Reference for more information.

Note: These assets will not print with the federal tax return, but will be included on the Property Tax return and be listed under the PPT Book or State Property Detail report (if the PPT return can be filed based on the state treatment.)

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