As a renter of real property, you are not eligible to take depreciation on the renovations you made to this property.
That statement as worded is not quite accurate.Leasehold improvements to the structure are generally capitalzed over 15 years. Once the lease ends, the improvements generally belong to the landlord, unless otherwise specified in the agreement. If the tenant is able to take them, they must remove them without any damage to the property.
A capitalized leasehold improvement under GAAP is amortized over the lesser of the remaining useful life or the remaining term of the lease if more than 1 year.
