Timeline for Tax Impact of Selling Appliances in a Rental Property
Current License: CC BY-SA 3.0
4 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Mar 17, 2014 at 17:38 | comment | added | ssaltman | this is what you are expected to do, but actually, like many folks, I expense new appliances (which I buy used anyway) as repairs and don't add bother with the depreciation paperwork. | |
| Mar 15, 2014 at 4:50 | comment | added | littleadv | @JoeTaxpayer I'd say if you claim the fridge was a free load when you purchased the rental - you'll take all the proceeds as capital gain. 27.5 years depreciation is only for the building. | |
| Mar 14, 2014 at 13:09 | comment | added | JTP - Apologise to Monica♦ | If you edit your question to address the situation I imagine to be most common, I buy a place, rent it, and depreciate over 27.5, but sell an item as OP described, I will delete my answer. | |
| Mar 14, 2014 at 4:06 | history | answered | littleadv | CC BY-SA 3.0 |