Can I deduct the cost of new furniture for a vacation rental

[jbeau2230]

The cost of the furniture is under 2500.  We rented 60 days last year and had personal use of approx 21 days.

[PatriciaV]

Yes, you may report this purchase as a Rental Expense for your Rental Property. Be sure to allocate the cost based on the time the property was available to be rented. 

For example, if the property was listed all year and you used it yourself for 21 days, the maximum number of rental days would be 366 minus 21 = 345. If you spent $2,500 on furniture, you would then report a rental expense of $2,356 ($2,500 x 345/366). The remaining amount is not deductible as a personal expense.

[christopherdwyer08]

Can I expense/deduct furnishings for my vacation rentals if I'm just using Schedule C, not Schedule E, and if so, in what category?  Each of my furnishings costs less than $2500. Since I do not need to do an allocation (my rentals are available all year and are 100% occupied by guests, not by me), do I have to itemize every furnishing, or can I just list them as one lump sum?

[ksatesog]

Does Turbotax automatically allocate the depreciation between personal and rental use? What if I am depreciating over 5 years and my personal and rental use changes each year?

[maglib]

@christopherdwyer08  why are your reporting rentals on schedule C unless you spend over 750 hours on them?  the accounting won't be correct especially on the allowance for losses.

[ksatesog]

Thanks but I am reporting it on Schedule E. Even though it has prorated things like maintenance, etc. it has not prorated the mortgage interest.