Thank you @DianeW777
I did the gut renovation of my primary residence and converted to rental years later.
1. Can I just not add the cost of the appliances + shades to the cost basis as improvements and depreciate the total cost basis of the apartment over 27.5 years as I have now converted to rental? The reason I ask is that the gut renovation happened when the apartment was my primary residence and years later I converted it to a rental.
2. I own an apartment in a co-op building (with 200+ apartments). In this case, I dont own any land so can I keep land value as 0 and improvement value as all the cost basis of the apartment (including $ spent on renovation)?
