Arthur L. Rubin wrote:

(snipped a bit here and there....)

- quote -

That's good enough for me, and thanks, Art.

Last week I looked over a return with about six rentals for
a new client, and there on form 4562 were maybe 4 household
items under section 179. They were NOT included on the
depreciation line for each of the pertinant properties, but
listed again as "other', e.g. refrig, heater, etc. and the
amount.

CheeR$,
Harlan Lunsford

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Harlan Lunsford <lunstax[at]bellsouth.net> wrote:
- quote -

It changed from 7 to 5 about 1997. All rental items like
refigs, carpets are now 5 years.

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- quote -

I researched it once -- personal property used in a rental
WAS 5 years MACRS(GDS), 9 years AMT(ADS). I'm on a VERY
old computer, here (if it were depreciable even under the
ADS schedule, it STILL would be completely depreciated), so
bear with me while I search.

Try publication 946, chapter 4, subheading
"Which Property Class Applies under GDS", item (2)(f)

2) 5-year property
f) Appliances, carpets, furniture, etc., used in a
residential rental real estate activity.

Also see table 3, "MACRS Recovery Periods for
Property Used in Rental Activities" in publication
527.

Now I KNOW publications are not definitive, but this
certainly suggests the IRS point of view.

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Arthur L. Rubin wrote:
- quote -

Five years? Heck, I've always used 7.

Cheer$,
Harlan Lunsford

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Mommio2 wrote:

- quote -

I'm not sure what you mean by "heaters". Refrigerators and
other similar equipment would be depreciated over 5 years,
and (if new) may be eligible for the 50% or 30% "bonus
depreciation". If not elibible for bonus depreciation, or
you waive the bonus depreciation, you may have to use a
different depreciation schedule for Alternative Minimum Tax
purposes.

I think you need an accountant this year -- it would have
been better if you saw the accountant BEFORE you became a
landlord.

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Hi! I am a new landlord this year. Could anyone please
tell me if necessary things I buy for my rental property
like refrigerators and heaters are deductible? If so, would
they come under "repairs" or "other"? Thanks!

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