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donna-w1
June 6, 2019
Solved

Is a new electrical panel box & new breakers deductible?

  • June 6, 2019
  • 1 reply
  • 0 views
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Best answer by MinhT1

If this equipment is for your home (residence), it is not deductible.

If this is for a rental property, it is deductible as repairs if it costs less than $2,500. If it costs over $2,500, the equipment has to be capitalized and depreciated.

1 reply

M
MinhT1Answer
June 6, 2019

If this equipment is for your home (residence), it is not deductible.

If this is for a rental property, it is deductible as repairs if it costs less than $2,500. If it costs over $2,500, the equipment has to be capitalized and depreciated.

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    P_Ohana
    June 6, 2019
    If the cost is below $2500, can I elect to depreciate?
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