Since I'm claiming a new HVAC/furnace system as a depreciable improvement, I'll tack onto this similar question rather than start a new one. My question concerns how to categorize the expense.
In the describe this asset section, I'm assuming that I would select Rental Real Estate Property. From there TT asks be to categorize the asset. Would a new HVAC system by further catergorized as Residential Rental Real Estate, or Appliances, carpet, furniture? The only other option is Land improvements. I'm thinking the first, but I could see it being either of the first two.
Thanks.
