TT has a drop down menu that extends from A - Computer and Peripheral thru X - Non depreciated asset ... to classify each improvement when you initially brought it into service.
I have numerous improvements that I made to a rental property ... that I recently sold. TT requires me to dispose of them along with the residence. These improvements include a built in microwave, new front door/fixture, new french doors, new roof, new driveway, new basement floor, new under cabinet lighting, and new wood floors. I classified them with what I considered appropriate, but some didn't seem to fit ... like a new driveway or new french doors. What category would these be?
Once you make your choice -- and realize it's wrong based on recommendations here -- is there any problem changing the classification now?
So regarding the sale of my rental property and disposing of these improvements, I will use the wood flooring as an example. TT shows the cost to be $3597 and the depreciation to be $2561. When I tell TT that I sold the wood flooring, what would you suggest to put in the Sales price and Sales expenses block?
