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jimmy72
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  • great, thank you.do i need to prorate the depreciation the first year dependent on which month the property is available like you do with the 27.5yr building de...
    jimmy72
    2
    Updated Oct 16, 2023
  • But how can you expense furniture that was bought before the property was made available to rent? It seems to me that would have to be added to cost basis of th...
    jimmy72
    4
    Updated Oct 16, 2023
  • Thanks for the great reply's. By first year I meant the year that I make the property available to rent. If this happens to be toward mid or end of year do I th...
    jimmy72
    9
    Updated Oct 16, 2023
  • So then I also have the option of expensing the costs in the first year using de minimis safe harbor or safe harbor for small taxpayers?
    jimmy72
    11
    Updated Oct 16, 2023
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