You cannot claim the section 179 deduction for property held to produce rental income. This would include any rental assets along with capital improvements. How do I handle capital improvements and depreciation for my rental?
Land and land improvements do not qualify as section 179 property. Land improvements include swimming pools, paved parking areas, wharves, docks, bridges, and fences. Land improvements have a 15 year recovery period.
For more information regarding depreciation please refer to the following publication:
IRS Publication 527 Residential Rental Property
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