pk
Level 15
Level 15

Get your taxes done using TurboTax

You declare a new asset, like you did for the rental property ( to get depreciation ) -- except in this case you invoke  section 179 so it is 100%  deducted from your rental gross.

 

Note that the asset has to be used more than 50% for business ( i.e. exclusively and regularly).   Keep good records -- IRS often looks at these  things with a jaundiced eye.

 

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