I did some major home improvements like fixing the foundation but also bought some new furnitures and other equipments before placing my rental property in service
My question is
When Turbotax asks me about "What improvements did you make before renting out my property", should I include the cost of new furnitures with other major home improvements? (They will be depreciated in 27.5 years together)
Or should I added the cost of new furnitures separately because furnitures will be depreciated in 7 years.
I googled and found someone said in this scenario separating the depreciation of personal properties like furnitures will bring tax benefit when selling the house because things like furnitures can be sold at a loss.
I am not sure about it.
