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Updated over 7 years ago,
How to write off general business expenses with several rentals?
Hi All,
So might be a stupid question but here goes... What is the best way to categorize expenses that are for your overall business operation when you have several properties? For example say I purchase a printer, stamps, and laptop for business use. These 3 items would be used across the 7 properties I own so how would you note that on a schedule E come tax time since its used across the board for the overall operation of the business and not linked to a specific property. In the past, I have just placed each item with a different property on the schedule E but I feel like this is inaccurate and there must be a better way.
Thanks!
Rick