I purchased a rental property in 2022 and feel confused about how to enter into TT expenses for that property. After purchasing the property I purchased new carpet, a new AC, a washer/dryer, and paid a contractor to do a number of improvements.
I've encountered three areas of TT that may be asking for these expenses: (1) in the property profile, TT asks for remodeling expenses; (2) in the common expenses section, TT asks about repairs, (3) in the assets/depreciation section, TT asks about improvements. How do I decide where to enter these expenses? And am I correct that I should not be entering anything twice (in more than one section of TT)?
Additionally, I'm wondering if I should enter the property itself as one of the assets to depreciate?
