I had to replace a broken furnace for my residential rental property. The total cost for it was $2525. On the invoice the breakdown for that charge is $2000 for furnace, $150 for a new thermostat, and the optional addition of a new return for $375 which was suggested since the furnace was an upgrade in the size of the unit(furnace). Is it possible to expense each item separately and elect the De Minis Safe Harbor or must I depreciate the whole charge of $2525?
Also there is a separate line item on the invoice for refrigerant of $225. Can I expense that?
The bottom line on the invoice is $2750. But in the end I had to only pay $2675.
