How to expense appliances?
I've recently learned how to run numbers for property depreciation as a contra asset, yada yada. Now we bought a new $600 fridge for the mobile home we're renting out that we paid $12,000 for. I'm taking the election this year as a real estate professional. Can someone please tell me how to log this expense on my books? (Expense vs depreciate) This unit cash flows nicely. Thanks.