ksb
Level 1

Self employed

KristinaK, thank you for answering my question. The new bathroom is listed as an upgrade to the entire home, and depreciated. That part I understand, but think I need to clarify a little more. It was a total remodel of the bathroom starting in 2019, and was put back into service in October. We had to wait on the cabinet to be completed, which didn't happen until 2020, so the final bill, with balance due after the cabinet was installed, didn't come in until then. Approximately 80% was paid in 2019, with the final 20% paid after the remodel was completely finished in 2020. I just am not sure how to claim the final payment. Should I claim the 80% in 2019, and then the remaining 20% with 2020 taxes, or can I include it all as one line item in 2019?

 

Thanks,

ksb