If I paid for a $20k remodel and the invoice is detailed then can I line item some appliances and depreciate them over 5 years?
Can I De Minimis specific line items if they are under $2500? For example, a closet cost $1800 to add while another line item deals with all the electrical work for $1500?
This is what I'm envisioning from the $20k remodel invoice:
$500 Diswasher: Depreciate over 5 years
$1500 electrical work: De Minimis expense
$1800 closet build: De Minimis expense
$16200 remaining invoice: Depreciate over 27.5 years
Is this allowed? Thanks.
