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Investors & landlords
Could you site the reference you used for your response regarding depreciating pre-existing appliances? I have searched all over the IRS website and I cannot find the answer. I thought you could only depreciate appliances placed in the home after converting it to rental property. Do you not add the FMV of the pre-existing appliances to the cost basis of the home?
‎April 29, 2020
2:50 PM