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September 29, 2023
Question

furnace

  • September 29, 2023
  • 1 reply
  • 0 views

How do I (or can I) write off a new furnace for a long term rental? Is it a fixed amount or based on the cost of replacement?

    1 reply

    DoninGA
    Employee
    September 29, 2023

    If the cost of the furnace was $2,500 or more then you have to depreciate the furnace at the same rate as the property, 27.5 years.