Doris711
Level 2
03-02-2025
01:49 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Daycare client installed new hardwood flooring with a cost of $4700 in rooms use by both family and daycare kids. Because the flooring is an improvement, is depreciation the only option?
Your assistance is appreciated.
Labels
TaxGuyBill
Level 15
03-02-2025
06:01 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If the total flooring that was replaced was 1/3 or less of the total flooring of the house, deduct it.
If it was more than 1/3, I would lean towards depreciating it.
