I have a second home that was converted into a 100% short term rental at the beginning of 2024. The second home was constructed in 2023 during which time I purchased appliances, bedding, wall art, cookware, utensils, drapes, etc. for personal use. These items were then provided as part of the short term rental when it was put into service at the beginning of 2024. Which items can now be depreciated based on their FMV at the time of conversion? Can I expense any of the smaller items such as utensils on my 2024 Schedule E?
