Improvement depreciated 2023 or 2024?

[slara22]

Hello,

I signed a contract to replace the windows of our home in November 2023, and paid the 1st installment of the cost then. 

In January 2024, I paid the 2nd installment. This week (Feb 2024) we will have our windows installed and we will pay the 3rd and final installment.

Should I depreciate the cost of this improvement in my 2023 or my 2024 taxes? I have a home office and plan to depreciate it, just want to make sure when I should do that.

Thanks in advance!

[DoninGA · Accepted solution]

Since the installation was not completed until 2024, you would depreciate them on the 2024 tax return next year.

[slara22]

Thanks!