You keep referring to "Sale of Assets/Depreciation" section.
I can not find it. Where is it?
The renter was moved to a nursing home. While at the nursing home he passed away. He had two small dogs and did not do his part in keeping the property properly maintained. I had to entirely gut the house and while doing so, I updated the flooring, kitchen counters, blinds, landscaping, new A/C, etc. Are those repairs or improvements? Also there is material cost and labor cost.
I understand
"Ummmm... property improvements are entered in the "Sale of Assets/Depreciation" section.
If the property improvements were done after the last renter moved out and therefore never placed "in service", they do not get depreciated..."
Thanks, Fred
