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Level 2

Tax for several rental properties.  Can  you get the bonus depreciation and what code do you use.

What items does it include. H/A   plumbing   electrical or others. Can this be repairs or new.


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4 Replies 4
Level 14

1) Can  you get the bonus depreciation and what code do you use.         depends on the asset  

2)What items does it include. H/A   plumbing   electrical or others.        Are you referring to what can be included in bonus depreciation ?   Doesn't any of your reference manuals have this information?

3)Can this be repairs or new.          repairs to what?  Can what be new?

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Level 2

I have gone to IRS web site and have 2 different versions. The property is new, it says items can take the bonus  depreciation  if a business. 

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Level 15

Generally, plumbing and electrical are considered as part of the building itself, so they would not qualify for Bonus depreciation.

But if the taxpayer qualifies for use the De Minimus election, they could possible deduct those items with the election.

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Level 12
Level 12

Your answers are found in pub 527. Link: https://www.irs.gov/pub/irs-pdf/p527.pdf