Second hand couch tax deduction?

[Bill90.]

Hi

Just wondering how do I prove the cost of a second hand couch for a rental property?.

Thanks for any info.

 

[ClubMan]

With the receipt for payment for the item?

 

[jim]

I assume the OP doesnt have a receipt...

 

[T McGibney]

Why do you need to prove it?

 

[jim]

Why do you need to prove it?

Isnt the Revenue guidance along the lines of deductable expenses need to be vouched to supporting documentation?

 

[noproblem]

You need receipts and it's allowable against tax over 8 years at 12.5% pa.

 

[T McGibney]

Isnt the Revenue guidance along the lines of deductable expenses need to be vouched to supporting documentation?

Well ideally yes, but if you have been using a couch in your own home for a number of years and wish to introduce it to a rental property, you might well have not kept the receipt for its original purchase but would be nonetheless well entitled to claim its current value as a furniture and fittings addition for capital allowances purposes.

 

[argolis]

I sold a Dyson vacuum a while back, the guy who bought it was an accountant taking it for a rental he had. He brought his own receipt book and asked me to sign it as the seller which I did no problem. So, receipt book in Eason's and have it with you for the seller to sign and that should be documentation enough to claim it I would say?