Can we claim the rental asset for 2020 income tax that we bought on 2019 but we did not claim in 2019 tax return .?

[nguyenvan1]

The rental asset as furniture, TV cabinet, lawn mower...

[ColeenD3 · Accepted solution]

No. You will need to amend your 2019 return to enter the assets you bought in that year in order to claim the first year's depreciation or the Safe Harbor election.

[Carl]

What are you calling a "rental asset"? Did you purchase residential rental real estate in 2019? If so, did you rent or attempt to rent it out in 2019?

Maybe what you're calling a "rental asset" is something else, such as a camper you rent out? Maybe you had to purchase a new central A/C unit for your rental property, making that new A/C unit a "rental asset".

You really need to provide more details before anyone can give you a reply you can feel confident is correct.  For example, if you purchased a rental asset in 2019 but did not place it "in service" until 2020, then depending on what the asset is, you may not report anything about that asset on your 2019 return.

[Steven7075]

Steven ray smith 2019