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Tax, SDIRAs & Cost Segregation

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Melissa Koon
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No Itemized Invoice De Minimis Safe Harbor

Melissa Koon
Posted Feb 10 2023, 03:40

I have a rental home and had the HVAC and water heater replaced last year. The furnace stopped working and was in need of costly repairs that would likely only prolong a replacement. Since they were already replacing the furnace, the HVAC contractor also talked me into replacing the AC and water heater at the same time since they were also 20+ years old. Fast forward to doing my taxes now. I have a general invoice for the $7950 cost but it's not itemized, making it difficult to claim de minimis safe harbor. I've reached out to the HVAC rep and he is unresponsive to my request for an updated invoice. Do I have any options outside of capitalization? 

Thank you in advance for your input. 

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