oneacross
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@Anonymous_ you’re saying I cannot expense items purchased in 2020, and converted to a rental in 2022?I must depreciate even small items likes pots and pans?
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You can expense an item placed into service in 2022, even though it was purchased in 2020? That sounds great!Which IRS publication says this?thanks!@Carl
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Where do I navigate to to enter this information?
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Does it matter if these go into "utilities" or "other"?Is it up to my discretion?
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Hi @Carl, I have a follow up question on this topic with regards to startup costs.Pub 535 says that utilities are start-up costs.This is the scenario this year:...
Activity Feed for oneacross
- Posted Re: Can I depreciate assets purchased before converting home to a rental? on Investors & landlords. October 10, 2023 6:38 PM
- Cheered Re: Can I depreciate assets purchased before converting home to a rental? for Anonymous_. October 10, 2023 6:37 PM
- Posted Re: Can I depreciate assets purchased before converting home to a rental? on Investors & landlords. October 5, 2023 10:23 AM
- Cheered Re: Can I depreciate assets purchased before converting home to a rental? for Carl. October 5, 2023 10:22 AM
- Posted Can I depreciate assets purchased before converting home to a rental? on Investors & landlords. October 4, 2023 9:45 PM
- Cheered Re: Home converted to rental, original appraisal, inspection costs for Anonymous_. October 3, 2023 8:12 PM
- Posted Re: Home converted to rental, original appraisal, inspection costs on Get your taxes done using TurboTax. October 1, 2023 1:55 PM
- Posted Re: Do internet, HBO max, and security camera service count as utilities for rental property schedule E? on Investors & landlords. September 28, 2023 11:17 AM
- Posted Home converted to rental, original appraisal, inspection costs on Get your taxes done using TurboTax. September 28, 2023 11:16 AM
- Posted Do internet, HBO max, and security camera service count as utilities for rental property schedule E? on Investors & landlords. September 28, 2023 11:10 AM
- Cheered Re: Rental Property Dates & Numbers That Matter. Date of Con... for Carl. September 28, 2023 10:24 AM
- Cheered Re: How to prorate mortgage interest for property converted to rental mid-month? for NCperson. September 28, 2023 10:24 AM
- Posted How to prorate mortgage interest for property converted to rental mid-month? on Deductions & credits. September 28, 2023 9:57 AM
- Posted Can I double the per diem meal allowance for my wife and I to travel to our rental home to work on our house? We file together. on Get your taxes done using TurboTax. September 18, 2023 6:42 PM
- Cheered You have a lot to learn about rentals and being a landlor... for Carl. September 6, 2022 8:46 PM
- Cheered Then your cost basis is $160K. Period. You don't list the... for Carl. September 6, 2022 8:46 PM
- Cheered Rental Property Dates & Numbers That Matter. Date of Con... for Carl. September 6, 2022 8:46 PM
- Posted Re: Rental Property Dates & Numbers That Matter. Date of Con... on Investors & landlords. September 6, 2022 8:45 PM