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Is a renovated kitchen in the unrented portion of a partially rented home a depreciable rental asset?
Hello. I rent part of my home with a private entrance. Last year, we remodeled the kitchen (e.g., removed a wall, new cabinets, counters, appliances, electrical, plumbing) in the primary portion of the home, which is separate from/not accessible to the rented portion. Do/should I add the kitchen remodel as a depreciable asset associated with this home's rental unit? I haven't added the new kitchen to the rental at this time, as it appears unrelated to the rental itself, though it impacts the overall value of the home. Thank you in advance.
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March 20, 2025
4:56 PM