Replaced AC Unit in Rental Property in amount of $5,500 in 2021. How do I calculate depreciation and for how long?
See response in this thread from @BMcCalpin
Also replaced stove in Rental Property for $950. Does this have to be depreciated or can total amount be deducted for 2021?
The stove can be either expensed and deducted in full under Safe Harbor DiMinimis (recommended) or it gets classified as an appliance and depreciated over 5 years.
