Most appliances for rentals are bought pretty cheap. Were any over $500? Does your client want to make an election to expense items of $500 or less? Or, does he want to depreciate over time, maybe expects higher income in future years? Please, please read the new regs. They are very different, more specific, dollar amounts and percentages, UOP, etc.
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Most of my rental clients replace kitchen appliances from the scratch and dent inventory of box stores or used appliances. Lion is correct, you can get a apartment sized fridge for $200 to $300. So the safe harbor comes in handy. What I do is look at the other expenses first to see if we need to expense it to bring net income down or capitalize it for future use. It is an easy decision when net income is already negative.
A couple of years back I got a whirlpool washer and dryer pair with paint scratched off and a few dings on the side for $550. The retail price of the pair in perfect condition would have been close to $1000.
Got a $5 can of appliance enamel white paint and I can't even tell the scratches. Fortunately the dents are hidden from view!Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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