New range $2,850 - have to depreciate it?
We have apt. house and in our unit, had to purchase new range. It's over $2500 but I read online you can still expense if you choose. I have lot of expenses this year so don't mind depreciating it.
My questions are:
1- Do I have to depreciate it?
2- If I do the asset entry drop down is asking me to choose "type" and I don't see appliances listed.
Further down on the form its asking if its qualified economic stimulus property and there are many boxes to check or not check or to elect out of that.
What to do? I imagine I should get at least 10 years out of this range.
Thanks for any help/guidance.