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Posted by bono9763@yahoo.com on March 20, 2007, 1:47 am
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> I was living abroad for the last 8 years and was renting out
> my home. Last year I had to replace the AC Unit and the
> total bill for that was $11000. This year I am back in my
> home. How much of the 11000 can I deduct? I am guessing that
> it would be a 7 year item so I could deduct approximately
> 1600. Or could it be classified as a repair and I write the
> whole 11000 off at one time?
>
> Also, I bought a really efficient unit so I could take
> advantage of the 300 dollar Federal Tax Credit for
> Residential Energy Efficiency. Can I take advantage of this
> if it was for rental property? Any advice would be
> appreciated
It sounds like it is central air, so that becomes part of
the structure of the property and is depreciated over 27.5
years for residential real estate.
The residential energy credit is only for your primary home,
so rental property doesn't qualify.
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