OR-DEPR - OR Depr Method

magd — Thu, 03 Apr 2025 04:35:50 GMT

I bought a clothes washer for my rental property. I want to expense the whole thing, $650. Turbotax is asking questions I don't know the answers to.

It asked for the Fed and Oregon cost basis. I assume these are both $650.

What is the Oregon depreciation method? There are many options.

Do I use $650 for the Oregon and Federal depreciation?

thanks!

Re: OR-DEPR - OR Depr Method

JamesG1 — Thu, 03 Apr 2025 15:58:09 GMT

The cost basis for the clothes washer is $650 for both Federal and Oregon.

On the Federal income tax return, you may elect Special 179 deduction and expense the asset in the current year.

The Oregon income tax return will honor the Federal election of Section 179 expensing. The Oregon Department of Revenue states:

MACRS is effective for assets placed in service on or after January 1, 1987 (see exception below for assets placed in service during 2009 and 2010). The method and life will be the same as you used on the federal return. If you elect to expense the cost of qualifying assets under IRC Section 179, the election and amount is also effective for Oregon purposes.

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OR-DEPR - OR Depr Method

Re: OR-DEPR - OR Depr Method