deducting a skidsteer

[Loren Kreider]

I'm working on my tax return and ran into difficulty. I bought a used skid steer in 2018 for use on my rental properties, cost $6000. I have three residential rental properties in service and one I am currently renovating (not yet in service). I have been using TurboTax Deluxe the past 8 years, and may have reached a limitation of that software this year. I understand that nothing I buy for the not in service property is deductible, its all capital improvement until I put it is service. I plan to use the skid steer equally on all my current and future investment properties. I do most all the repairs, maintenance, and improvements to the properties myself. So my question is how to put it TurboTax for the max deduction. Should I list it as an asset on 1 property on Schedule E, or is there a way to split it up between my active properties. I appreciate any help on this. I have the same question for other tools, such as lawnmowers, power tools, hand tools.  In prior years, I listed them as "supplies" and split the cost equally among my active properties on Schedule E, but now I am wondering if they should have been "assets" instead. I'm not trying to cheat the IRS, but don't want to leave any money behind either.

[Steven Hamilton II]

Sorry Loren, I don't give direct advice for self-prepared returns as I don't want to be held liable for any misinterpretation of my advice.  @Nicholas Aiola @Natalie Kolodij