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Deductions & credits
Just a couple of clarifications:
If you qualify for, and actually make the De Minimis Election, you can deduct the room AC/Heat unit if it is under $2500. Otherwise, if it is over $200 it is depreciated (probably over 7 years).
The whole-house AC/Heat unit is depreciated over 39 years, multiplied by the business percentage.
If you qualify for, and actually make the De Minimis Election, you can deduct the room AC/Heat unit if it is under $2500. Otherwise, if it is over $200 it is depreciated (probably over 7 years).
The whole-house AC/Heat unit is depreciated over 39 years, multiplied by the business percentage.
May 31, 2019
5:55 PM