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gringo252
New Member

How do I categorize a washing machine for depreciation?

Turbotax does not have appliances as a depreciation category.
1 Best answer

Accepted Solutions
tagteam
Level 15

How do I categorize a washing machine for depreciation?


@gringo252 wrote:
Turbotax does not have appliances as a depreciation category.

Actually, TurboTax does have appliances as a depreciation category (see screenshot below). 

 

However, you are probably better off using bonus depreciation which will allow you to expense the asset.

 

re.png

View solution in original post

2 Replies
tagteam
Level 15

How do I categorize a washing machine for depreciation?


@gringo252 wrote:
Turbotax does not have appliances as a depreciation category.

Actually, TurboTax does have appliances as a depreciation category (see screenshot below). 

 

However, you are probably better off using bonus depreciation which will allow you to expense the asset.

 

re.png

View solution in original post

Carl
Level 15

How do I categorize a washing machine for depreciation?

Depreciating a washing machine over 5 years will not make one bit of difference to your tax liability. Since it costs less than $2,500 and is not a permanent physical part of the structure, you can just expense it under safe harbor and be done with it forever.

 

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