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Investors & landlords
Still confused. When I purchased the furnaces I could have taken the entire cost as an expense in the year purchased OR I could depreciate it.. right? As an expense it's deducted from my income in that year and done where what you are saying is that by depreciating it I get to take a bit every year until fully depreciated BUT at some point I have to claim the depreciation when I sell? Sorry I'm not understanding.. Appreciate the help!
March 5, 2023
1:59 PM