Search results

Yes, an insurance payout would muddy the water, but Matt made no mention of that in his original post. It would not appear that there was an insurance payout. At least there is consensus on the bond being treated as income and the painting an expense. I'll leave this thread now.

Probably a few ways to skin it. I'm not an accountant, but I know one of them will jump in. 1. The old stove and carpet will be in the Low Value Pool by now I bet. And the owner will have been using the Pool. So those items need to stay in the Pool and keep getting depreciated. 2. Claim the...