New Carpet Expense

[jonicurry]

Hello, question for Tom (unless someone else knows )

I run my daycare from my parent's home (and I don't live there) - so I don't file the form for business use of home and I don't get to deduct rent and utilities and all that (unfortunately). But this year I paid $400 to put new carpet in the living room at my parent's house because this is the daycare area. Can I deduct that at all? If so, I know that it would be depreciated, but what would be the number of years and method? Turbo Tax asks me to put something like MACRS or straight line or something like that?

Thank you for your help!

[TomCopeland]

Hello, question for Tom (unless someone else knows )

I run my daycare from my parent's home (and I don't live there) - so I don't file the form for business use of home and I don't get to deduct rent and utilities and all that (unfortunately). But this year I paid $400 to put new carpet in the living room at my parent's house because this is the daycare area. Can I deduct that at all? If so, I know that it would be depreciated, but what would be the number of years and method? Turbo Tax asks me to put something like MACRS or straight line or something like that?

Thank you for your help!

If you bought the carpet in 2013 you can use the 50% bonus depreciation rule. Depreciate it over 7 years using MACRS (accelerated method).