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Investors & landlords
I thought you can deduct appliances (assets) under $2,500 if you purchased it for a rental , based on the new 2018 Tax rules? I don't know where and how to deduct it.
Under rules that go into effect for tax year 2018, you can also deduct more expenses under a section of the tax law known as Section 179. Under the new rules, you can do this with up to $1 million in new property used for certain allowable business uses, including providing lodging to your tenants. This property can include appliances, such as refrigerators, and furniture, such as beds.
‎July 30, 2019
12:26 PM