@JamesG1 , The install cost for the HVAC is around 10K. I understand how improvements are added as assets in the Rental section and what the usual rental expenses are. I have reported rental activity in TT for several years. The question arises from the fact that I installed the HVAC in March 2022 when I had a renter and sold the property in Nov 2022. In my situation, there is NO depreciation of this asset (since it was installed and removed in the the same year - and TT does not calculate it either). So, do I still enter the HVAC as an asset and then prorate my gains from the sale of my rental property for the HVAC ? Or so I capture it as a capital improvement and add it to by cost basis for the rental and then come up with my actual gains from the rental sale?
