@eleven13 wrote:
Thank you!! I didn’t save any receipts when purchased those back in 2016, can I estimate the cost by google on internet? Date in service will be the date I rent it out? And what method you recommend to use for appliances like stove oven etc.?
I would presume the current fair value of a used stove is much less than what you paid, so the purchase price and receipts are not relevant. You must use the current fair market value for used appliances of the same or similar model in the same or similar condition with the same or similar features.
The date you place the property "in service" is the date the home is ready and available to rent. (In rental condition, has a certificate of occupancy, is advertised as an available for rent, meets all legal requirements to be rented.). Presuming it takes a couple weeks for background checks, deposits, and so on, the in service date might be some time before the first tenants actually move in.
