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Get your taxes done using TurboTax
No, you would most likely need to separate the improvements/expenses.
As long as they were done while the property was an active rental, you can address them separately.
If done before it was active, the total is added to the value of the building.
If active:
Things such as "painting" are listed as Expenses and deducted in the year they are incurred.
Additional assets are listed and depreciated, although those that cost 2,500 each or less can be deducted in full if you so choose. TurboTax will offer that option to you.
Anything connected to the property itself, such as flooring or a new roof, that, because you choose to list as an additional asset because they cost more than 2,500 or that you choose to list rather than expense, are reported as a "Rental Real Estate Property" asset.
These questions are asked when you go through the rental interview.
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