You may depreciate the appliances as well as the dwelling when the property is converted to rental use.
You may have purchased the appliances separately and there is a record of the original cost in your home purchase paperwork.
The internet may give you a idea of the fair market value of each item.
IRS Publication 551 pages 10 and 11 states:
Property Changed to Business or Rental Use
If you hold property for personal use and then change it to business use or use it to produce rent, you must figure its basis for depreciation. An example of changing property held for personal use to business use would be renting out your former main home.
Basis for depreciation
The basis for depreciation is the lesser of the following amounts.
- The fair market value (FMV) of the property on the date of the change, or
- Your adjusted basis on the date of the change.
@eleven13
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