If the TV in my fully furnished rental property carks it, can I claim a tax deduction? Is this considered a repair/maintenance or would I only be able to claim it as a depreciating asset?
If it is valued at under $300 (or $600 if held jointly with someone else) then I understand you can write it off. If over these amounts then it goes into the LV pool as a depreciating asset. Your accountant should help with all this.
