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viejoloco
Level 1
January 26, 2022
Question

Rental Property expenses

  • January 26, 2022
  • 1 reply
  • 0 views

I had to replace the air conditioner unit in my rental property. How do I report this expense? Does this expense qualify for the year the equipment was installed or must it be written off over time? What is the typical time? 5 years?

    1 reply

    R
    RobertB4444
    Level 15
    January 26, 2022

    You will report this as a depreciable expense. The time for you to depreciate significant capital improvements to a rental home is 27.5 years. 

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    C
    Contented
    Level 4
    January 26, 2022

    I have a similar question.  I have sold a rental for which I have been depreciating a roof and furnace. How do I recapture that depreciation and do I list each as sold for $0 (as an asset) when I list the sale of the home for it's total?

    R
    RobertB4444
    Level 15
    January 26, 2022

    That's exactly how you'll do it.  Unless you want to allocate the sales price across all of the assets associated with the rental house.

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