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Investors & landlords
@apdickinson wrote:However, I'm now adding a new bathroom vanity top. The cost is $970. How do I do that?
If I select #1 is spreads it out over 27.5 years.
You can use the De Minimis Safe Harbor Election for that as well.
You should see the screen for that election immediately after the screen that inquires as to whether you have assets that can be depreciated.
Otherwise, you have to go with depreciation over 27.5 years as an improvement.
‎September 7, 2020
6:44 PM
28,990 Views