Accounting for lawn equipment (expenses)
I have created financial statements for our personal family, and each of our three rental properties. We recently purchased some lawn equipment (expense, not capital) that we will use solely for the existing and future rental properties. I'm lost as to where to book those purchases. I use a Schedule E for tax purposes, so do I just lump it randomly into one of the properties? Allocate it among the existing properties?
Thanks!
Karen