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Where do I enter those building improvements in Turbotax Home and Business?
I built a business warehouse 4 years ago that I am presently depreciating (it is on my personal property). I added pallet racks and garage door seals to it this year. I don't want to put them with misc. expenses because they are improvements that will stay with the building. Where do I enter those building improvements in Turbotax Home and Business?
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June 1, 2019
12:42 PM
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Investors & landlords
Enter them as an Asset. Use the following steps to get started.
- Starting from the Business Income and Expenses (Schedule C) selection under income, choose Update or Review to get to the details about your rental or business
- Proceed to the summary page, then Edit your rental property or business name
- Proceed through the questions until you reach the area where you can click Start or Update for the Assets/Depreciation section
- Proceed to the point where you adding an asset on the page titled Describe This Asset
- Continue entering the details for your building improvements
June 1, 2019
12:42 PM
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Investors & landlords
Is there a way to tie them to the cost of the building versus just listing them as an individual assets like other items in my business?
June 1, 2019
12:42 PM