Question

For rental property how is vinyl flooring categorized for asset depreciation, real estate property or rental property appliances, carpet, furnishings?

Forum|Forum|6 years ago
June 1, 2019
2 replies
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TurboTax Premier Windows

Most flooring is considered to be permanently affixed. These types of flooring include hardwood, tile, vinyl and glued-down carpet. Since these floors are considered to be a part of your rental property, they have the same useful life as your rental property. As such, the IRS requires you to depreciate them over a 27.5 year period.

You categorize your vinyl flooring as a new asset under Real estate property.

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L

laifang01

If the costs of vinyl flooring of rental property totals $7000 including both labor and materials. The materials cost is under $2500. Can I take The materials costs as current year deduction using the feminine’s safe harbor and the rest depreciated over 27.5 years?

A

AmeliesUncle

@laifang01 wrote:
If the costs of vinyl flooring of rental property totals $7000 including both labor and materials. The materials cost is under $2500. Can I take The materials costs as current year deduction using the feminine’s safe harbor and the rest depreciated over 27.5 years?

No, it is all considered as one thing, so you can't separate out the cost of materials apart of the installation.