Question

Writing off small items on a schedule E

Forum|Forum|2 years ago
March 21, 2024
2 replies
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I have an airbnb. can I write off small items such as a $30 iron under supplies or does it have to be depreciated on the property assets page?

V

Vanessa A

A small item such as a $30 iron would be a miscellaneous expense not a depreciable asset.

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P

pbmunkeyAuthor

Is there a Dollar threshold, where a small item would just be considered a miscellaneous expense

A

AmeliesUncle

@pbmunkey wrote:
Is there a Dollar threshold, where a small item would just be considered a miscellaneous expense

Yes, it is $200 and less.

As was mentioned above, there is an election that could potentially increase that UP TO $2500. But you would need to (1) qualify for the election (qualifying for it is something that most people forget about) and (2) actually make that election.

A

AmeliesUncle

I have a lot of items that are $200 or less, such as blow, dryers, and irons, and other things that have a useful life of under one year. Can I classify them along with my regular supplies, such as toilet papers and cleaning supplies or should I put them under misc expenses as you mentioned

Items $200 and less are just "supplies" (or whatever other category applies). The category rarely matters anyway (except meals).