Where do I enter getting my business parking lot repaved? Is it a business asset that I depreciate or does it go in repairs?

Parking lots, along with fences, sidewalks, and driveways, are land improvements with a limited life. They are generally considered 15-year depreciable property.

Follow these steps to enter your parking lot:

1. Click the "Business" tab in TurboTax,
2. Click "I'll choose what I work on."
3. Scroll to Business Assets
4. Click Start on Assets Being Depreciate
5. Follow the instructions on screen to enter the details of the asset