Can I elect to expense a gas kitchen range bought in 2017 for a rental 4-plex unit on the Form 4562, depreciation?

[cavewolf2]

Is it prohibited to "expense" the gas kitchen range because the IRS considers it a furnishing for a lodging unit?

[Coleen3 · Accepted solution]

That is correct, but that is not the only way to expense an asset.

De Minimis Safe Harbor Election
This election for items $2,500 or less is called the De Minimis Safe Harbor Election. This election is an option you can take each year that lets you write off items $2,500 or less as expenses instead of assets. Expenses typically reduce your income by a larger amount than depreciating an asset over multiple years does. This means you could get a bigger refund.

If you decide to take this option, a form called De Minimis Safe Harbor Election will show up in your tax return. This election will apply to all your businesses, rental properties or farms.

Here are the rules you need to meet to take this election:

• You don't have an applicable financial statement (most people don't).
• You have a consistent process for how you record expenses and assets.
• You record these items as expenses on your books/records.
• The cost of each item as shown on your receipt is $2,500 or less