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SensibleandHourly
SensibleandHourly
Level 6
April 7, 2022
Question

Depreciation

  • April 7, 2022
  • 1 reply
  • 7 views

Good morning, Community, 

I have a new client with a single rental home that he has in the past claimed depreciation on a Kubota tractor as he uses it primarily for snow/leaf removal for the rental. Does anyone have a good article on best practices for depreciation involving a rental? 

Interestingly, he is in the process of selling said rental, i.e. a mobile home,  for a 100k profit margin from original purchase price. Crazy times in which we live! 

Have a great day, Dawn 

This topic has been closed for replies.

1 reply

IRonMaN
IRonMaN
Level 15
April 7, 2022

You would depreciate it as any other piece of equipment.  But unless he is dealing with a 3 mile long driveway and 40 acres of lawn, I would find it hard to believe it is primarily for the rental.  Folks tend to like to buy themselves toys to play with and then try and dream up a way to write off the cost of the toys.

Slava Ukraini!
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