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Updated over 5 years ago on . Most recent reply

Matthew Ewald's profile image
Matthew Ewald's profile image
Matthew Ewald
  • Flipper/Rehabber
  • from West Des Moines, IA
  • Member since Jul 7, 2019
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Matthew Ewald's profile image
Matthew Ewald's profile image
Matthew Ewald
  • Flipper/Rehabber
  • from West Des Moines, IA
  • Member since Jul 7, 2019
Connect
Matthew Ewald
  • Flipper/Rehabber
  • West Des Moines, IA
9
Votes |
27
Posts
Tax, SDIRAs & Cost Segregation

Writing tools off on my taxes?

Matthew Ewald
  • Flipper/Rehabber
  • West Des Moines, IA
Posted

What's up Bigger Pockets?

Just a quick question for you.

I am doing my first fix and flip investment and I'm doing the rehab myself. Can I write the tools that I buy to use in my business off on my taxes?

Thanks in advance for your help.

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Luke Saglimbeni's profile image
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Luke Saglimbeni
  • Rental Property Investor
  • from East Longmeadow, MA
  • Member since Aug 29, 2019
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Luke Saglimbeni's profile image
Luke Saglimbeni's profile image
Luke Saglimbeni
  • Rental Property Investor
  • from East Longmeadow, MA
  • Member since Aug 29, 2019
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Luke Saglimbeni
  • Rental Property Investor
  • East Longmeadow, MA
64
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154
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Luke Saglimbeni
  • Rental Property Investor
  • East Longmeadow, MA
Replied

@Matthew Ewald

In addition to the above: for future reference. Assets and their depreciable time frame are found below. Good luck

https://taxmap.irs.gov/taxmap/pubs/p527-005.htm

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