Depreciation

B

badbob

Registered User

Messages

21

• 16 Aug 2010

• #1

Can one claim depreciation on a rental property as an expense?

 

K

Kerry Gooner

Registered User

Messages

54

• 17 Aug 2010

• #2

No afraid not.

 

P

Pat Bateman

Guest

• 17 Aug 2010

• #3

badbob said:

Can one claim depreciation on a rental property as an expense?

Click to expand...

Kerry Gooner speaks the truth.

Depreciation is just an accounting charge and not a "real expense".

 

M

Mrs Vimes

Registered User

Messages

1,128

• 17 Aug 2010

• #4

you can, however, claim wear and tear on fixtures and fittings and furniture.
Sybil

 

B

badbob

Registered User

Messages

21

• 17 Aug 2010

• #5

yes so I believe, but what is a reasonable total for same. When I totalled "most"of fixture and fittings - came to 15,000, is this very high? (current value)

 

K

Kerry Gooner

Registered User

Messages

54

• 18 Aug 2010

• #6

Allowed to claim 12.5% of €15000 for each of the next eight years.

 

B

badbob

Registered User

Messages

21

• 18 Aug 2010

• #7

Petermack, thanks for reply, yes residential letting - the reason I referred to current value is that the property was our family home before letting so furniture etc. was not all new. Am I correct in thinking I can assess the current value of same and claim wear and tear as above?