Furnished SFR Tax Question

[Glen Sonnenberg]

I just purchased a SFR in downtown Phoenix which my son will be living in and renting out two of the rooms to students. We are furnishing the house and I am not sure how to deal with the taxes and depreciation of the furniture. I don't want to get involved with depreciating everything separately but am not sure if I have to or not. Next year, when I file taxes would I just include all of the furnishings in the cost basis of the house for depreciation purposes? If not, how do I handle this? What is the standard life for couch, table, bedroom set, etc.? What's the "typical" way furnished houses/apartments are handled in terms of taxes and depreciation? Anything I need to be careful about? Thanks!

Glen