kentster 02:10 PM 02-17-2012
New to the forum but tons of reading previously....great way to find info! Listing our swimming pool ($38K) under Land Improvement as a depreciable item as kids use it during DC. While T/S seems to be method for most items depreciated, it seems reasonable to use Actual Business use for swimming pool as it is used only in summer months. In my case T/S would have higher cost depcreciated, but is that "reasonable" (22% T/S vs 4% Bus Use)? Tom's book is on the way, but I thought I would ask opinions of others in a similar situation. Do you use T/S or Actual Business Use for such an item? Thanks.
TomCopeland 05:33 PM 02-20-2012
You could use either a time-space % or an actual use percent to claim expenses for your pool. If you are going to use actual use, you need to keep records for at least a couple months to show your actual use.
kentster 10:06 PM 02-22-2012
Thanks Tom. If actual business use % is a lower percentage than the T/S % am I "forced" to use the lower percentgage in this case?
TomCopeland 09:35 AM 02-23-2012
No, you are not forced to use the lower number.