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Updated over 4 years ago, 04/09/2020

User Stats

18
Posts
6
Votes
Jeremy A.
  • Rental Property Investor
  • Central New York
6
Votes |
18
Posts

Tax Write Off Question

Jeremy A.
  • Rental Property Investor
  • Central New York
Posted

Purchased used cabinets off Facebook marketplace for $1000 with a hand written receipt. I’m assuming these count as capital expenses, but can I still write them off because they’re “used” and from a personal seller rather than from a store? Please advise

User Stats

23,418
Posts
13,506
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,506
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

New/used or who you bought them from doesn’t matter. 

User Stats

1,040
Posts
728
Votes
Christopher Smith
  • Investor
  • brentwood, CA
728
Votes |
1,040
Posts
Christopher Smith
  • Investor
  • brentwood, CA
Replied

There are a number of immediate expensing provisions you might avail yourself of, just go through them to see what best fits your situation.

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User Stats

124
Posts
63
Votes
Christian D.
  • Real Estate Broker
  • Charleston, SC
63
Votes |
124
Posts
Christian D.
  • Real Estate Broker
  • Charleston, SC
Replied

You can write it off and take the full deduction in the first year they are put in service, i'm not sure why you would capitalize and depreciate $1,000 cabinets.