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Beloosh
April 12, 2023
Question

Are appliances included in the purchase price of a rental eligible for depreciation (without deducting their value from the total basis)?

  • April 12, 2023
  • 1 reply
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1 reply

DaveF1006
DaveF1006
April 12, 2023

Yes, and these should be reported as separate assets for depreciation purposes. The FMV of the appliances should be subtracted from the basis of the building and assigned its own cost basis for depreciation purposes since it will be reported as a separate asset. 

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