- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Another thing I wanted to clarify is only in the "Your property assets" page I have two assets one for each bedroom?
Technically, you could just enter one entry showing the entire 20% for both bedrooms as a single asset. But there's a reason I had you separate the bedrooms out.
The reason I had you set it up that way, is so that if for example, in the future you need to convert only one of the bedrooms back to personal use, then you can do so without screwing up things like the depreciation history. Additionally, if you wanted to add another room later down the road, then you can do so with ease and not mess up the existing history.
In other words, it gives you versatility down the road if things change, so you don't have to jump through burning hoops of fire over boiling lava pits to deal with those changes.