Used Play Structure

[NillaWafers]

I just bought a used play structure, I know I will be getting a receipt for it so I can write off the depreciated value. We are paying someone to move it and reassemble it - is this deductible too? I use minute menu, would it be considered a service (and use the time/space formula?) Thanks!

[TomCopeland]

Play structure

I just bought a used play structure, I know I will be getting a receipt for it so I can write off the depreciated value. We are paying someone to move it and reassemble it - is this deductible too? I use minute menu, would it be considered a service (and use the time/space formula?) Thanks!

If it cost less than $500 you don't have to depreciate it and you can deduct the business portion in one year. Put it under Activity expense in Minute Menu. Separate the cost of moving and reassembling it from the cost of the structure. If it cost more than $500 depreciate it over 7 years and put it under Furniture/Appliances in Minute Menu. If it cost more than $500 and you use it more than 50% in your business, use the Section 179 rule and deduct the business portion in one year.

[NillaWafers]

If it cost less than $500 you don't have to depreciate it and you can deduct the business portion in one year. Put it under Activity expense in Minute Menu. Separate the cost of moving and reassembling it from the cost of the structure. If it cost more than $500 depreciate it over 7 years and put it under Furniture/Appliances in Minute Menu. If it cost more than $500 and you use it more than 50% in your business, use the Section 179 rule and deduct the business portion in one year.

It's 500 exactly. It's a friend so I could ask to pay a dollar less so I don't have to depreciate.

My main question was how do I write off moving it? It will cost me 550 to move and have someone reassemble it in my yard. Is that deductible?

[TomCopeland]

play structure

It's 500 exactly. It's a friend so I could ask to pay a dollar less so I don't have to depreciate.

My main question was how do I write off moving it? It will cost me 550 to move and have someone reassemble it in my yard. Is that deductible?

Deduct the structure in one year, don't depreciate. The cost to move and reassemble it is a "repair/maintenance" expense, so deduct it in one year.