You'll need to sign in or create an account to connect with an expert.
Yes. However, there is a difference in how they are entered in TurboTax.
The carpeting and appliances are considered capital expenses that have to be depreciated. You enter them in TurboTax as assets.
Paint jobs generally are a current expense, irrespective of how much one costs, unless they are part of a remodeling, or are incurred before the property is put in service. [In those instances, painting must be capitalized.]
To enter the assets in TurboTax Premier, please follow these steps:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
annmt
Level 1
amhinvestmentgroup
New Member
Aussie
Level 3
liuderui
Level 1
hazim
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.