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Investors & landlords
Yes, I would classify them as "Appliances, Carpet, Furniture". For any individual item that cost less than $2,500 you can elect the de minimus rule and expense those items. TurboTax will ask you if you purchased any assets that cost $2,500 or less and give you the option to make the election. For items more than $2,500 you will capitalize them, but if they qualify for bonus depreciation the program will give you the opportunity to elect that as well.
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March 30, 2022
7:16 PM