TaxGuyBill
Level 15
12-07-2019
04:00 AM
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Yes, appliances would qualify for Bonus Depreciation
As for the new kitchen, you indicated it was in a Rental property. Is this a Residential rental property? If so, it is NOT defined as "Qualified Improvement Property", and therefore would not qualify for Section 179. So that would usually mean it would be depreciated over 27.5 years.
If this is a commercial rental property, then the next question would be "Does this rental activity rise to the level of a Trade or Business?" (which requires 'regular and continuous activity in connection with the rental).
As for the new kitchen, you indicated it was in a Rental property. Is this a Residential rental property? If so, it is NOT defined as "Qualified Improvement Property", and therefore would not qualify for Section 179. So that would usually mean it would be depreciated over 27.5 years.
If this is a commercial rental property, then the next question would be "Does this rental activity rise to the level of a Trade or Business?" (which requires 'regular and continuous activity in connection with the rental).