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Updated over 5 years ago on . Most recent reply
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Where to include appliances on P and L statement
My first two years of owning rentals, I just put appliances such as washer and dryer, stove, under "supplies". I have switched accountants and my new accountant asked me to use Quickbooks. Now I am not sure where to include appliances - fixed assets?? The only category already built is furniture and equipment. I can build another category for appliances, but not sure whether to put it under expense or fixed asset. Is there a dollar amount (cap) that items don't get depreciated unless they are above a certain amount? Thanks for any advice.