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Discussion:DEPRECIATION: 3 Rentals and 1 computer & 1 printer.
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Discussion Forum Index --> Tax Questions --> DEPRECIATION: 3 Rentals and 1 computer & 1 printer.
| 3 April 2007 | |
| Hello all,
I don't know how should I enter the depreciation of 1 computer and 1 printer for a taxpayer that uses them 80% for his rental properties. He has 3 rentals, so what should I do? I don't think that the answer is to link them to one rental property or divide the cost among the three rentals since the depreciation would be a nightmare and and hard to explain. What would you do in a case like this? A million thanks | |
| April 3, 2007 | |
| Create a 4th Sch E worksheet and use a description, such as, "Various Expenses for All Rentals." Then add the depreciation for computer and printer. I've done this before when clients have several rental properties with expenses that are attributable to all properties. | |
| 3 April 2007 | |
| What a smart way to handle that! I knew I could count on my dear Almanacers.
Thank you. | |
Rgtaxservice (talk|edits) said: | 3 April 2007 |
| Why not just attribute it to one rental? It's six of one and half dozen of another. It will all equal out in the end. | |
| 3 April 2007 | |
| For my clients that have multiple rentals I do another schedule E and list it Items Common to All.
I list things that pertain to all properties and I have seen this done by other preparers | |
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