topic How do I categorize a washing machine for depreciation? in Investors & landlords

How do I categorize a washing machine for depreciation?

gringo252 — Wed, 10 Jun 2020 21:41:48 GMT

Turbotax does not have appliances as a depreciation category.

Re: How do I categorize a washing machine for depreciation?

Anonymous_ — Wed, 10 Jun 2020 21:48:03 GMT

@gringo252 wrote:
Turbotax does not have appliances as a depreciation category.

Actually, TurboTax does have appliances as a depreciation category (see screenshot below).

However, you are probably better off using bonus depreciation which will allow you to expense the asset.

Re: How do I categorize a washing machine for depreciation?

Carl — Thu, 11 Jun 2020 15:51:41 GMT

Depreciating a washing machine over 5 years will not make one bit of difference to your tax liability. Since it costs less than $2,500 and is not a permanent physical part of the structure, you can just expense it under safe harbor and be done with it forever.