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I ordered a gas fireplace and paid for 1/2 in 2024, and paid the rest in early 2025 when it was installed. What should I enter on my 2024 return?
I would prefer setting it up as a depreciating asset in either 2024 or 2025, but I could also expense what I paid in each year (2024 and 2025).
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‎April 13, 2025
5:27 PM