How to record converting privately used appliances to business use for tax purpose?

Question

I have an investment property in California that needs a new washer and dryer. I file the revenue on my personal tax return (for better or worse).
I would like to get a new set for me, personally, and then move my current set to the investment property.
How should I record this for tax purposes?
Do I just expense current market value of my existing appliances as though the investment property bought them used?

Michael · Accepted Answer

I think @RonJohn gave you the perfect answer: Sell your old appliances to your income property at market value.
Show that market value as an expense against your rental income.
You should be filing a Schedule E on your tax return for your rental, and that will have your expenses on it.

mhoran_psprep · Answer

How should I record this for tax purposes?

the idea is to have the rental property buy them from you.  But you need to document the price of each appliance at the time you make the switch. You may have to do some searching at places that sell used appliances.

How to record converting privately used appliances to business use for tax purpose?

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