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Updated over 7 years ago,

User Stats

242
Posts
61
Votes
John K.
  • Investor
  • Madison, WI
61
Votes |
242
Posts

General Use Items for Rental Property on Taxes/Accounting

John K.
  • Investor
  • Madison, WI
Posted

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?  

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