Purchased Washer/Dryer for Building - Can I claim this Deduction?

[LaCroix Rockwell]

Hello, I purchased a washer/dryer and coinbox for my 3-unit property back in October.   I was wondering if this is eligible as a business expense - or another type of qualifying deduction - so that I could finish up my income taxes.  If so, how would I file this expense?  Under repairs, supplies, utilities or other?

Thanks in advance.

[Michael Metzger]

@LaCroix Rockwell It really depends on your situation and what would be best for your personal finances. I would first ask your accountant what will benefit you most. However, you could add this to your repairs and maintenance. You might also be able to depreciate the appliances over a period over 5 years- best if you are expecting income to rise over coming years. Or with the Secure Act, you can now do 100% bonus depreciation and take the entire depreciation deduction this year- best if you have unusually high income for 2020.

Hope this helps!