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http://boards.fool.com/if-we-purchase-tools-for-the-purpose-of-14475429.aspx
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| Subject: Re: Deductibility of Tools for Renovation | Date: 3/5/2001 8:59 AM | |
| Author: pmarti | Number: 47681 of 118626 | |
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If we purchase tools for the purpose of renovating a rental property, can that purchase price be added to our basis? The tools of course wouldn't be consumed, and we'd still have them for use on our own home if we so desired. Others may disagree, but I think this is too agressive. I wouldn't take depreciation for the tools. Phil Marti VITA Volunteer |
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