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Investors & landlords
Your type of rental is a multi-unit rental. Since it is not a stand-alone structure but part of your home, you will have to prorate the improvement. The rental portion (whatever that percentage would be) is depreciated over 27.5 years. The personal portion of the improvement will be added to the basis of your home and will help exclude gain when sold.
The direct expenses related to the rental activity is fully deductible.
‎June 4, 2019
2:49 PM