We purchased a Condo in June 2018 for 100% rental income. In Sept 2018 we started a big refurb project that took us till Nov 1 2018 when done for new rentals.
For 2018, we hired a CPA but that really didn't work out. I have the tax return pdf with me.
For 2019 Taxes
I entered the numbers in for the Purchase and added another entry for the Major Improvement, but the DATES confuse me.
For the Section for Major Improvements......
1. Date Purchased or Acquired ??? Is it June, Sept, or Nov ????
2. Next Screen, assumed that that the refurb was not a new Asset so said 'None of the above'
3. Date first started using it for business (refurb) would be?
4. Confirm Your Prior Depreciation that does not include any section 179 deduction? On my Form 4562- section 179 from 2018 tax return my original purchase(June) is $7000 and the Sept refurb is $300
What to enter here???
Many Thanks in advance
