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Unregistered
03-01-2021 05:10 PM
Furnace and AC
Is there any way to deduct these replacement costs the first year, or must they depreciated?
TomCopeland
03-02-2021 11:58 AM
Furnace
Originally Posted by Unregistered:
Is there any way to deduct these replacement costs the first year, or must they depreciated?
They are a home improvement that must be depreciated over 39 years. However, if you meet one of two exceptions you may be able to deduct the business portion in one year. See my article: http://tomcopelandblog.com/how-to-de...me-improvement
