Can I include the cost of a new furnace and air conditioner as repairs and maintenance? In 2019, I replaced both units and I write off part of my home as a home office.

rcbIL-IN · ‎January 28, 2020

ColeenD3 · ‎January 28, 2020

No. They are assets that must be depreciated along with your house. You can only take a deduction for the business use portion, which is determined by the square footage.

A repair would be to fix a furnace/ac, not purchase a new one.

Dtran1 · ‎April 6, 2022

I understand that they have to be added as assets. But Turbo gives categories of asset that are pretty limited. Should I select: "Tools, Machinery, Equipment, Furniture" or "Computer, Video, Photo, Telephone Equipment", or "Real estate property?"

KrisD15 · ‎April 6, 2022

Select

"Tools, Machinery, Equipment, Furniture"

Real estate property itself cannot use Bonus Depreciation.

Only the assets ADDED may.

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Can I include the cost of a new furnace and air conditioner as repairs and maintenance? In 2019, I replaced both units and I write off part of my home as a home office.