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My AGI is greater than $150K. I remodeled my rental property kitchen for $50,256. Is there any reason to take the Special Depreciation Allowance?
My other expenses already wipe out any profits from the rental property. I'm assuming "no" I shouldn't take the allowance. I can't see that there is a benefit to taking it. Am I missing some benefit by not taking it? Does it affect my basis in any negative way to take it?
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‎June 5, 2019
3:14 PM