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Updated almost 7 years ago,
At What Point is it a Business Expense?
I am moving out of my residence and will be renting it out. The dishwasher died, and I'd like to be able to treat the replacement as a business expense and get the tax advantage. I don't mind washing dishes by hand for a while, so at what point should I replace the dishwasher? Do I need to wait until I physically move out? Or can I do it once I advertise the unit for rent? Or some other option?
Similarly, the unit needs some painting done and I'd like to know the best timing for that.