I started restoring one of our old apts. when tenant moved out in June 2023. Its still not finished. I expect to finish this year. There will be more expenses but I paid the largest part already which was over $25K. That all happened in 2024. Do I now add the apt. restoration to the depreciation tables? It asks when it was put in service and I don't yet have a completion date or date a new tenant will be able to move in. OR
Should I add this job as an asset list where I already have another similar situation called "Construction in progress" which I named hall project (still not done yet) and then move them each to depreciation schedule once the work is done and completed?
How do I handle that for 2024? Thanks
