If your return gets rejected, you'll be able to change your tax return without having to amend it.
If you e-filed your return and it was accepted by the IRS, yes, wait for the IRS to process your return before you amend it.
The porches are not repairs. They're depreciable assets.
- Capital improvements that add to the value of your rental property, prolong its life, or adapt it to new uses must be depreciated over a period of time rather than deducted as a current-year expense.
To enter your rental improvements, simply follow the directions to enter your rental income and expenses.
- At some point you'll come across the Rental Summary screen.
- Select Start next to Asset/Depreciation and follow the onscreen instructions.
- We'll figure out which depreciation method works best in your favor.
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