It depends on how you depreciated these. If you depreciated these assets as Residential Rental Property with a 27.5 straight line deprecation, then these assets are not eligible for the bonus depreciation. Bonus depreciation can only be applied to assets that have a useful life of 20 years or less. Here are some general guidelines to depreciation and expenses regarding residential real estate.
- For the carpet, the asset can depreciated over 5 years unless it is glued down and becomes a permanent fixture. If this is the case, you would need to depreciate over 27.5 and would not be eligible for the bonus depreciation if this is the case. If depreciated over 5 years, then it is eligible for bonus depreciation.
- Kitchen cabinets are permanent structures. These should be depreciated over 27.5 years and are not eligible for bonus depreciation. I have seen similar posts where the depreciation schedule was much less but this is not the correct way of reporting because these are permanent structures
- The garage door can be entered as an expense and not depreciated since the cost is less than $2500.
- All expenses under $2500 can be listed and expensed. I would combine these per invoice just to keep in compliance with the tax code, if the amount expensed is $2500 or less.
As a rule of thumb, if your asset is a permanent fixture to your rental home, it must be depreciated over 27.5 years. This means if the asset cannot be easily removed, then this is a permanent structure and not eligible for bonus depreciation.
Let us know if this helps.
@spichon
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