Campground repairs

[Crickgy1]

I have a campground that went 15ft underwater during historic flood in 2018.  I had to replace all of my electrical system before I could reopen, so repair was required.  It was a 90K repair/improvement that I would like to takeover several years so where do I plug that into Turbo tax and how do I figure how many years to spread it over.  It was a declared disaster area but by the time SBA for individual businesses was declared I had already secured financing for repairs

[MarilynG1 · Accepted solution]

You can enter the 90K as a Business Asset to be depreciated over time.

You can choose either three, five, or seven year property.

Click this link for a detailed article on Depreciation of Business Assets.