JanetB21
Employee Tax Expert

Get your taxes done using TurboTax

Hello hispalette,

Thanks for joining the event!

When your basement apartment is ready for rental, in addition to your income and expenses, you will claim depreciation for the value of the rental portion of your property.  The improvements you have made will be added to that value then! This is a great article that helps explain depreciation:  Rental Real Estate  

Good Luck with your new rental!
JanetB211


**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"