I have a multiple rental properties, and if I purchase a battery power drill ($50) and use it to repair and maintain multiple rental properties, is this drill an expense or should a depreciate it over multiple years? Does the de minimis safe harbor applies to this situation?
And since I used it on multiple properties, what should I do about it?
Since I do a lot of repair myself I purchased a lot of tools, such as screwdriver, multimeter, lawn mower, saw, etc each cost less than $2,500.
