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April 13, 2024
Question

$16000 loan for Furnace and air Conditioner replacement which encompasses the home office. Do i take the entire amunt as an asset or a home repair? any suggestion would be appreciated..

  • April 13, 2024
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1 reply

April 13, 2024

A furnace and air conditioner replacement is an Asset, not a repair.  

 

Even though you got a loan to pay for the replacement, you would enter the total cost when entering the Asset information.  

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