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Investors & landlords
Also as stated earlier, Sec. 179 can only be used to write-off "personal property", not real property. Therefore you've got to determine whether the new flooring is personal or real.
New carpeting would be personal property (not real property) and therefore eligible for Sec. 179 treatment provided the taxpayer satisfies the "trade or business" requirement sec. 162 as you point out.
‎April 2, 2025
10:29 AM