I purchased a house in November, 2009 and used it as my primary residence until December, 2020. In January 2021, I rented the property which has been rented ever since. When I purchased the property the appliances were new and their cost included in the purchase price of the property. At the time of purchase, I didn't get a breakout of what each appliance cost.
My question is whether I should estimate the costs of the appliances and remove them from the cost basis of the property for purposes of depreciation? If I remove them and depreciate the appliances separately, would I need to use the current fair value of the property as the basis for the depreciation? I am not sure if they are worth anything since they are 13 years old. Thanks!
