Improvements to property that I rent out.

3 replies
36 views

I just recently remodeled the entire backyard and spent around 16k. I was wondering if this would be considered as improvements under Assets/ Depreciation for the rental?

Mike9241

Level 15

what exactly was done to the backyard? what you did could be land improvements that have a shorter depreciable life than if you built a garage.

Mike9241

ao1022Author

Level 2

Complete renovation. I had new sod put in, plants/ fruit trees, pavers/ fireplace and irrigation system installed.

Carl

Level 11

I was wondering if this would be considered as improvements under Assets/ Depreciation for the rental?

Yes. Anything that increases the value of the property is a property improvement and gets entered in the assets/depreciation section.

Generally, while for the most part, land improvements are not depreciated, they are still entered to show the increased value of the property.

Improvements to property that I rent out.

3 replies

Unlock tailored help options in your account

Get answers to all your tax questions

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Let's get you signed in

Login with SSO