Since all of the items that you listed probably cost less than $2500 each, you can choose to expense them as Miscellaneous Expenses rather than depreciating them by choosing the De Minimis Safe Harbor, an annual tax election that business owners and real estate investors can make when they file their returns. Under the Expenses section of your Rental property, choose Assets and answer the questions regarding assets that cost under $2500 each, then check the box to take the De Minimis Safe Harbor election for the year. The system will then prompt you to enter the full cost of the furniture items under Miscellaneous Expenses.
The IRS allows you to claim travel expenses for business tasks that are ordinary and necessary to maintaining your rental business. Collecting rent and maintaining your rentals are examples of ordinary and necessary tasks that would allow you to claim a mileage deduction, which is 67 cents per mile in 2024.
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