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Investors & landlords
@dmcy22 wrote:
Am I able to deduct or depreciate 1/2 of the cost of those? If so, where would I do this?
Yes, you can deduct or depreciate the business percentage, and that likely seems to be 50%.
Furniture $200 and less can be deducted. If you qualify for and make the "De Minimis election", you may be able to deduct furniture that costs up to $2500. Otherwise, it would be depreciated (usually over 5 years).
May 1, 2021
11:50 AM