An election that lets a business expense items costing up to $2,500 each (or $5,000 with an applicable financial statement) instead of capitalizing and depreciating them.
It removes most laptops, furniture, and small equipment from the depreciation schedule and takes the deduction immediately. The election must be made each year on the return.
Yes. It is an annual statement attached to a timely filed return.
Last reviewed September 15, 2026. Tax rules change; confirm current law before acting.
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