Question about tax deduction/write off?

Ed434
Level 1
Franklin, WI

Question about tax deduction/write off?

Hi! My wife and I have been hosting our space for a few months now and have been enjoying it. The house was built in the early 90's and the doors and windows have seal damage and slight damage. This is the main entrance for our guests to enter the space. We have been told that this is something we can deduct or write off since its the main entrance. Just trying to see if thats the case. Either way we are getting these things replaced, just would need some clarity. We have guest almost 50% of the month or more. 

Thanks!

3 Replies 3
Helen3
Top Contributor
Bristol, United Kingdom

I would check with your accountant or whichever government department in your country deals with taxes @Ed434 

Pete28
Level 10
Seattle, WA

Look at schedule E IRS for guidance - windows are an improvement which is depreciated over 27.5 years. Furniture is 5 years. TurboTax should also help you file for this.

Sophia
Former Community Manager
Former Community Manager
London, United Kingdom

Hey @Ed434, just wanted to check in on how you dealt with this situation? Did you take onboard the advice shared by your fellow Hosts? 😊 It would be great if you could share with us what you eventually did, it may help other Hosts in the future!  

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