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Returning Member
posted Dec 9, 2023 9:23:55 AM

Deducting tangible improvements such as appliance purchases from rental income

I am the owner of one rental property. I don't have any businesses. I am making improvements to my rental property to make it ready for sale.  Can I use the de minimis safe harbor election to deduct up to $2,500 for each appliance or any other tangible purchase from my rental income?

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1 Replies
Level 15
Dec 9, 2023 10:04:57 AM

@econberkeley wrote:

Can I use the de minimis safe harbor election to deduct up to $2,500 for each appliance or any other tangible purchase from my rental income?

Yes, $2,500 per invoice or item.

 

See https://www.irs.gov/businesses/small-businesses-self-employed/tangible-property-final-regulations#Ademinimis