Anonymous
Not applicable
03-19-2020
10:07 PM
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Hi! I understand that the de minimis election is $2500 per invoice or item without an AFS. My question is does this apply to contractor labor? For example say you want to replace some carpet in a rental home...you buy some carpet for $600 at a Home Improvement Store and then you pay a local contractor $500 to install. Do both invoices qualify under the election? Thanks in advance!
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TaxGuyBill
Level 15
03-19-2020
10:58 PM
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In my opinion, that is still one 'item' that totals $1100.