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donna-w1
New Member

Is a new electrical panel box & new breakers deductible?

 
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Accepted Solutions
MinhT
Expert Alumni

Is a new electrical panel box & new breakers deductible?

If this equipment is for your home (residence), it is not deductible.

If this is for a rental property, it is deductible as repairs if it costs less than $2,500. If it costs over $2,500, the equipment has to be capitalized and depreciated.

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2 Replies
MinhT
Expert Alumni

Is a new electrical panel box & new breakers deductible?

If this equipment is for your home (residence), it is not deductible.

If this is for a rental property, it is deductible as repairs if it costs less than $2,500. If it costs over $2,500, the equipment has to be capitalized and depreciated.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
P_Ohana
Level 1

Is a new electrical panel box & new breakers deductible?

If the cost is below $2500, can I elect to depreciate?
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