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Old 02-16-2014, 10:12 AM
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TomCopeland TomCopeland is online now
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Join Date: Jun 2010
Location: St. Paul, Minnesota
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Default Depreciation

Originally Posted by AnythingsPossible View Post
We did numerous home improvements this year in regards to new vanities, new faucets, countertops, etc. Some were under $100, nothing was over $200. Do I have to total and depreciate these, or can I claim T/S? I appreciate any input!
It depends. If you were remodeling a room, then all the costs associated with that room would have to be depreciated, regardless of how small the cost. If you simply replaced a faucet or added a new vanity, you can deduct any item that cost less than $200 in one year (after applying your time-space %).
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