Is a new kitchen installed in June 2018 a "qualified property" for 100% bonus depreciation ?

[TaxGuyBill · Accepted solution]

No, as of right now "Qualified Improvement Property" does not qualify for Bonus Depreciation

However, "Qualified Improvement Property" may qualify for Section 179, if the other requirements of Section 179 are met.

[ChiHoang]

This is a brand new kitchen. what other requirements of section 179 that you think they must be met to qualify for section 179 deduction ? thanks for your answer.
How about new appliances for rental property ? are they "qualified property" for bonus depreciation or qualified for section 179 ?  

[TaxGuyBill]

Yes, appliances would qualify for Bonus Depreciation

As for the new kitchen, you indicated it was in a Rental property.  Is this a Residential rental property?  If so, it is NOT defined as "Qualified Improvement Property", and therefore would not qualify for Section 179.  So that would usually mean it would be depreciated over 27.5 years.

If this is a commercial rental property, then the next question would be "Does this rental activity rise to the level of a Trade or Business?" (which requires 'regular and continuous activity in connection with the rental).

[qbteachmt]

@sammanum 

This is a spammer; don't click on links. This is a US Income Tax community, not a kitchen or law firm community. I will report this for removal.