Re: de minimus safe harbor

Can de minimus safe harbor be used for items purchased last year for sole purpose of using in a rental but not put into service until this year. Thank you

posted

Usually the deduction happens in the tax year you place the items into service. Of course if you buy replacement linens, kitchenware, cleaning products, etc for future use then I would count it in the year you buy them as "supplies" even if they are not "consumed/used" until a future tax year.

Ok so if I bought wood and hardware to make furniture this year that will not be in the rental until next year, I can expense the cost of the furniture next year. I know that I can't include my labor. Thanks