ColeenD3
Expert Alumni

Investors & landlords

You are correct. Your placed in service date is November.

 

1) Your improvements are added to the basis if the property and depreicated along with it.

2) Since the improvements were done prior to renting, it is easier and more accurate to add it to the basis rather than keep it be separate. That area can be ulilized if you do any other improvements after you begin renting.