I purchased a new engine for a lawnmower in 2016, and I use it on some rental property I own.
Question #1: I can use this under "Assets/ Depreciation" instead of writing it off as an expense, correct?
Question #2: In the "Describe this Asset" section, this should be classified as a "Tools, Machinery, Equipment, Furniture?"
Question #3: In the section "Tell Us a Little More", is this a "General purpose tools, machinery and equipment" or is it "Construction machinery and tools?"
We need more examples here.
