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Investors & landlords
No. The total cost of a new air conditioner is reported on the tax return for the year it is installed and ready to be used (known as the "in service" date). The Safe Harbor Election is available only in the first year the asset is used. You can claim the entire cost (including installation costs), even if you are paying over time.
Additional Information:
- How do I handle capital improvements and depreciation for my rental?
- Safe Harbor Election for Small Taxpayers
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‎April 14, 2025
4:26 PM