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Investors & landlords
Yes, you may report this purchase as a Rental Expense for your Rental Property. Be sure to allocate the cost based on the time the property was available to be rented.
For example, if the property was listed all year and you used it yourself for 21 days, the maximum number of rental days would be 366 minus 21 = 345. If you spent $2,500 on furniture, you would then report a rental expense of $2,356 ($2,500 x 345/366). The remaining amount is not deductible as a personal expense.
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‎June 4, 2019
2:34 PM