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I purchased a vacation home in late 2015 that was rented briefly. In 2016 linens, bedding, drapes, cookware, small appliances etc. were purchased. Where would these items be categorized on schedule e?
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Enter them as supplies, if you are still renting the property. Any appliances (stove/refrigerator) or furniture with a useful life greater than 1 year, would be listed as an asset and depreciated.
Enter them as supplies, if you are still renting the property. Any appliances (stove/refrigerator) or furniture with a useful life greater than 1 year, would be listed as an asset and depreciated.
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