Furniture for a long-term rental
Varies
Can You Write Off Furniture for a Long-term Rental?
Short answer: Yes: furniture in a furnished rental is 5-year property, or expensed per item under $2,500.
Improvements that better, restore, or adapt the property are depreciated (27.5 years for residential buildings), though items under $2,500 can be expensed with the de minimis safe harbor.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
Furniture for a long-term rental
Varies
Real Estate / Landlords / Property Managers / Agents
Yes: furniture in a furnished rental is 5-year property, or expensed per item under $2,500.
Business justification
Yes: furniture in a furnished rental is 5-year property, or expensed per item under $2,500. Improvements that better, restore, or adapt the property are depreciated (27.5 years for residential buildings), though items under $2,500 can be expensed with the de minimis safe harbor.
Category
- Rental Property Write-Offs