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Old 03-01-2021, 06:10 PM
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Default Furnace and AC

Is there any way to deduct these replacement costs the first year, or must they depreciated?
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Old 03-02-2021, 12:58 PM
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TomCopeland TomCopeland is offline
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Default Furnace

Originally Posted by Unregistered View Post
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:
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depreciation - bonus, depreciation vs expense

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