Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
General Use Items for Rental Property on Taxes/Accounting
It's my understanding that every asset needs to be assigned to a property, we have 7 rental properties, and buy things like a snowblower that we use at two multi-family properties. Do we split the depreciation and asset between these two properties? Or should it be assigned to a single one (for accounting and tax purposes). I can easily do it in quickbooks, but how does it work when tax season comes?