PatriciaV
Expert Alumni

Deductions & credits

As DavidD66 said earlier, use the estimated cost for the renovation and begin depreciation on the date the unit was placed in service. If the contractor comes back with a different number that you actually pay, you can add another improvement asset to cover the difference.

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