DORFMONT[at]aol.com wrote:

- quote -

"Replacement" does not = expense. Regardless of whether
you've seen it audited or disallowed, property that lasts
several years must be depreciated. You stop depreciating
property when you remove it from service. If you throw it
away, you can deduct the adjusted basis as a loss.

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Preparers frequently deduct these items as "replacements"
(expense). I have never seen this audited or disallowed.
Most applicances cost a few hundred dollars and have to be
replaced every 2-3 years in a rental situation. Depreciating
these types of assets may result in carrying on the books
something that was broken and replaced years ago.

Linda Dorfmont E.A., CFP, CSA

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<dyu9999[at]gmail.com> wrote:

- quote -

Depending on their age, you should be able to deduct the
depreciation for equipment.


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"Expense" is kind of a technical term in taxes. Appliances
and furniture are items to be depreciated. An appointment
with a professional might be a good idea because a pro can
look at your tax situation and advise you on the length of
time that's best for you (plus legal, of course) and the
method of depreciation. Depreciation of rental equipment is
very, very useful and you don't want to get it wrong.

Nan, EA in LA

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dyu9999[at]gmail.com wrote:

- quote -

Not unless you have already started to rent out the house.
And in this case, you will depreciate these items, deducting
a portion for several years; five years I think I recall,
but check IRS publication 527 for starters, then maybe
publication 946.

ChEAR$,
Harlan Lunsford, EA in LA

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<dyu9999[at]gmail.com> wrote:

- quote -

These items may be written off over several years by
calculating depreciation on them. See Form 4562 and its
instructions.

Wayne Brasch

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<dyu9999[at]gmail.com> wrote

- quote -

Those would be depreciable property. See Form 4562.

--
Paul A. Thomas, CPA
Athens, Georgia

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"dyu9999[at]gmail.com" <dyu9999[at]gmail.com> wrote:

- quote -

No. You depreciate them.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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I bought washer/drier/refrig/furniture for house to rent it
out, can i deduct this as expenses in tax return?

thanks

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