• Community
  • :
  • Discussions
  • :
  • Taxes
  • :
  • Investors & landlords
  • :
  • Re: I purchased my home may 2019, converted the garage to a rental unit, started renting jan. 2021. can I use section 179 to deduct its cost on 2021 taxes?
Anonymous_
Anonymous_
Level 15
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Permalink
  • Print
  • Report Inappropriate Content

Investors & landlords

You can use the De Minimis Safe Harbor Election for items costing $2,500 or less.

 

See https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations#Ad...

‎December 31, 2021 8:19 AM
0
2,335 Views
Reply
Bookmark Icon
Powered by Khoros