Can items bought second hand (Craigslist,etc) be a tax write off?

Question

I'm planning to furnish my house for Airbnb/STR but want to try to stick to a conservative budget and buy some items on Facebook Marketplace and Craigslist for cheap.

• - I'm wondering how taxes work for this? Can I write off these items bought second hand? If so, anything I should consider for receipt/paper trailing? 
• - Or would it be best/easier to try to stick to buying new items online/in-store (amazon, etc)?
• - Anything else to consider?

Thanks!

John Underwood · Answer

Absolutely.

I just print off the add. Notate date and actual price paid and put it in the tax folder. I also add property purchased for.

Bruce Woodruff · Answer

Of course you can. And we've found that good quality thrift stores and antique stores will provide a much nicer product than almost anything new. Remember you don't want your STR to look or feel like a hotel room. That's what people are trying to get away from....they want a home away from home, not a sterile environment. Gently used furniture is a plus over brand new (in the STR game)

Especially with items like silverware and cookware, it's silly to buy them new. You cannot tell the difference between used and new with things like that.

Just save receipts. If you buy at a yard sale, have them write up something or you take a picture.

Frank A. · Answer

100% I do it all the time!! If you look at the higher cost of living areas, you can find luxury items at great prices for your STR!

Paul Sandhu · Answer

Don't forget estate auctions.  That's where I buy appliances and furniture.  When you pay for all your items, they will give you an itemized receipt for taxes.  Eventually you'll come to the point where the auctioneer comes over to your house to drink beer and shoot guns.

Basit Siddiqi · Answer

@Drake HamiltonNew or used items are eligible for deducitons.You just want to read the rules on bonus depreciation / section 179 expense as they may require the item to be new for you to claim bonus depreciation / section 179 expense.Best of luck!

Collin Hays · Answer

I am somewhat of an antique nut, so cabins in the Smokies lend themselves very well to those.  You find these on FB Marketplace and Craigslist.  I rebuilt a cabin from a fire in 2017, and outfitted a lot of it with fine antiques, as well as handmade furniture, etc.  A 250-year old grandfather clock, where I took the broken guts out and replaced with a battery movement, etc.  All of this is fully deductible, although a lot of it has to be capitalized.

Now there is a difference between junk and antiques, so be careful what you are putting in your STR.

I would figure that a typical So Cal beach house is going to need new and modern.

John Morgan · Answer

@Drake Hamilton

I write mine off!

Gerald Pitts · Answer

Take Screenshots.  Pay with Venmo,  PayPal, something electronic if possible.

Also recommend nicer furnishings over time once you get it cash flowing. It will pay for itself in higher daily rates.

Can items bought second hand (Craigslist,etc) be a tax write off?

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