Solved: Can I depreciate capital improvements on a property I rent for my business
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Can I depreciate capital improvements on a property I rent for my business

I am renting a property for my new business. It has required significant expense for capital improvements. Can I deduct these costs?

1 Best answer

Accepted Solutions
Level 6

Can I depreciate capital improvements on a property I rent for my business

Yes, you can depreciate these improvements.

They are capitalized as Leasehold improvements and are depreciated over 15 years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
Level 6

Can I depreciate capital improvements on a property I rent for my business

Yes, you can depreciate these improvements.

They are capitalized as Leasehold improvements and are depreciated over 15 years.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Dynamic Ads
v
Privacy Settings