DianeW777
Expert Alumni

Investors & landlords

No, not in the occasional rental of personal property.  You must make the calculations yourself and enter them as shown in the image provided by our awesome Tax Champ @tagteam.

 

The chart you can use against the cost or fair market value (FMV) of your equipment is attached below.  Use the percentage times the depreciable basis.  If the equipment was converted to rental use, then you should use the lesser of cost or FMV on the date of conversion.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"