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Daycare and Taxes>Furnace and AC
Unregistered 05:10 PM 03-01-2021
Is there any way to deduct these replacement costs the first year, or must they depreciated?
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TomCopeland 11:58 AM 03-02-2021
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
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Tags:depreciation - bonus, depreciation vs expense
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