@Carl I have a follow-up/related question. I made material improvements to my primary residence (finished my basement myself) to make more attractive as an Aribnb. How do I enter the improvement costs for depreciation into TurboTax Premier? Since I did the work myself, do I need to list line by line the items I purchased towards the project (extremely tedious)? Or can I simply add in a total cost somewhere? If so, how should this be entered?
Also, the house has been assessed with increased value. Do I enter this higher value somewhere (separately from the improvement itself) to account for depreciation?
Thanks in advance for any helpful input.
