I bought a new air conditioner for a rental property in 2023. The cost of air conditioner was 5200. Should I take a depreciation on it or expense it out fully?
You'll need to sign in or create an account to connect with an expert.
If you purchased a Central Air Conditioning unit it has to be depreciated at the same recovery rate as the rental property, 27.5 years.
@DoninGA Thank you. I will depreciate it. A follow on question. I put the house as rental in 2016 but the air conditioning was bought last year. Does it matter if the house has been depreciating longer than the air conditioning?
@bmshah1 No, it does not matter that the rental property has been depreciating longer. The date the A/C unit was placed in service is when the depreciation begins on the unit.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
nikkirawks
New Member
EricBBL
Level 3
fgroup1492
New Member
Aims173
Level 2
Mdlle8899
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.