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Investors & landlords
They are different rates. When you remodel a rental home, this is considered an improvement, (as compared to a repair) because it increases the value of the rental. Because of this, you must capitalize (depreciate) them. However, each item is depreciated in its own category. Click on this IRS link for more information: Additions or improvements to property.
You will notice on that link that appliances fall in a 5-year class whereas cabinets are in a 7-year class. That means they are depreciated at different rates.
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‎June 3, 2019
11:39 AM