I have one rental unit (townhouse worth about $210, 000). I file as an individual on a 1040 with Schedule E.
My 2023 income was as follows:
Primary job $130,000
Rental income $10,000
Capital gains from selling stock $5,000
I purchased the replacement windows for $7,000 in November 2023. The windows were delivered/installed in January 2024.
1. Do I use the purchase date or the installation date?
2. Do I enter this as "Residential Rental Real Estate" asset in TurboTax? (as opposed to "Land improvements" or "Appliances, carpet, furniture" or somewhere else completely different)
3. Can this be deducted in any manner other than straightline 27.5 year depreciation? (special, 179, etc.)
Thanks in advance.
