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June 4, 2019
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Can I depreciate my rental property over time?

  • June 4, 2019
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Best answer by DanielV01

It depends.  If you are talking about a house you are renting out, you are required to depreciate it over time.  You cannot expense it.  The same is true for any appliances, furniture, etc. that you may purchase for a rental home.  However, if you are talking about items you personally are renting, these are not depreciated.  If they are items you use exclusively for business, you may be able to deduct the rent you are paying.

Here's an FAQ which discusses this subject more thoroughly:  https://ttlc.intuit.com/replies/3302228

1 reply

DanielV01
DanielV01Answer
Employee
June 4, 2019

It depends.  If you are talking about a house you are renting out, you are required to depreciate it over time.  You cannot expense it.  The same is true for any appliances, furniture, etc. that you may purchase for a rental home.  However, if you are talking about items you personally are renting, these are not depreciated.  If they are items you use exclusively for business, you may be able to deduct the rent you are paying.

Here's an FAQ which discusses this subject more thoroughly:  https://ttlc.intuit.com/replies/3302228

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