Mixed-Use Vacation Home; Household furnishings/items purchased in prior years as rental expenses?

Forum|Forum|1 year ago
March 13, 2025
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First timer. My mixed-use vacation property was completely furnished for my own use in 2022/2023 before I chose to rent it for a couple of months during 2024. Are any of these furnishings/household items expenses on my 2024 taxes or depreciation items? Do even small items like kitchen utensils/etc qualify? If they are valid expenses related to the rental of the house, are they expensed at Fair Mkt Value? Do some fall under 'normal' expenses or do they fall under de Minimis Safe Harbor expenses? Thanks.

RobertB4444

Those expenses are from a prior year. You can't take them in 2024.

You can take the value of your household furnishings and depreciate them as residential real estate furnishings along with the property itself. The furnishings are those things that are expected to last more than a year and you would depreciate them at the value that you paid for them. But the little things that are just there are not expenses available to you in 2024.

@carlRcraw

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