- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Accessory dwelling unit just built
I own a single family house which I have rented to tenants for many years. In 2022 I built an ADU (Casita) on the back of the property, which will have separate tenants. I have entered the ADU info in Turbotax as a new asset of the original property, as opposed to a separate property. For the initial cost of the asset, I was planning to take the construction cost plus all the landscaping, furnishings, supplies, etc. Then I am asked for the cost of the land, which I entered as $0, since it was the same land the original house sits on. Does all this sound correct, or is there another way I should be adding this new building, land, and furnishings?
‎February 7, 2023
5:40 PM