Accounting for appliance purchases using EasyRentalTools
Appliances and other types of personal property (carpets, drapes, etc.) are 5 year depreciation items. EasyRentalTools property management software tracks these automatically
Appliances and other types of personal property for a rental property cannot be expensed in the year purchased. Instead, they must be depreciated over a five year period. The most common method used is accelerated so that the property owner can speed up the amount they are able to deduct over a straight-line method. The charts used to provide these figures are provided by the IRS or can be easily figured using EasyRentalTools' calculators. EasyRentalTools property management software also does this automatically any time you enter a personal property purchase. It's just one more reason why at EasyRentakTools you push the button, we do the work! Get your free trial of EasyRentalTools today!