Thank you for your reply!
I think I understand much better now. So, since I will need to add the renovation costs to the Asset section, which sub category will it fall under once I click on the Asset link? None of them mention anything about renovation costs specifically. Also, when I do that, do I need to itemize each renovation cost or would I just put in the total cost of the renovation project?
I'm in Nevada and it looks like real property vs. personal property are defined similarly to how your state defines them, so any fixtures that I bought that will be staying with the property (door handles, light fixtures, sink faucets etc should be added as assets and depreciated correct?... Thank you!
