I purchased a house with furniture for rental. May I depreciate the furniture?

I know I can depreciate furniture that I purchase for rentals. What if I purchased it already furnished?

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I purchased a house with furniture for rental. May I depreciate the furniture?

When you enter the home as an asset you may prorate the purchase price and make separate entries for the furniture & appliances. Those items are only 5 year properties and the house itself is 27.5 year.

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