Writing off furnishings

[Kyler Clem]

Hello!

I have just finished remodeling my downstairs into a rental unit. I want to full furnish it for mid-short term rentals. How can I write that off? If possible. Thanks!

[Edward Adams]

If you are renting out the furnished unit as a business, you may be able to deduct some or all of the costs associated with furnishing the unit as business expenses. These expenses may include the cost of furniture, appliances, linens, and other items needed for the unit. However, you should consult with a tax professional to determine what is deductible and how to properly document your expenses.

It's also worth noting that if you're renting out the unit for less than 15 days per year, you may not be able to deduct any expenses related to the rental, including the cost of furnishings.

[Lawrence Potts]

Quote from @Kyler Clem:

Hello!

I have just finished remodeling my downstairs into a rental unit. I want to full furnish it for mid-short term rentals. How can I write that off? If possible. Thanks!

Great question! I am not a tax professional and this isn't tax professional advice, but my guess is that you can depreciate the furniture? I think how the property is used will determine what you can write off. It might fall in the category of short term but again, I am not entirely sure. Maybe it's based on a minimum 15 or 30 day stay? Talk to a CPA that owns and invests in real estate and see what they come up with and let all of us know, we'd all benefit from it!