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Does this qualify for 179 or bonus depreciation?
I bought a new stove and fridge on 6/21/2017 for my personal property. On 1/1/2022, I converted it into a rental. May I use section 179 to depreciate 100% of cost in 2022 or use bonus depreciation to depreciate 50% of cost in 2022? Why do I get an error message saying only Schedule E activities identified as commercial rental property qualify for a section 179 deduction? Thank you.
‎January 8, 2023
3:23 AM