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rrobin832
Level 1

Can I enter deduct tile floored improvement in my rental? Turbo tax depreciates the cost of the flooring over 27 1/2 years and I want to depreciate 7-10 yrs?

Can I deduct tile flooring improvement in my rental? Turbo tax depreciates the cost of the flooring over 27 1/2 years and I want to depreciate 7-10 yrs?
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Accepted Solutions
KarenJ
Intuit Alumni

Can I enter deduct tile floored improvement in my rental? Turbo tax depreciates the cost of the flooring over 27 1/2 years and I want to depreciate 7-10 yrs?

New flooring would be considered an improvement, not a repair.  New floors are expected to last the life of the property.  That is why they are depreciated over 27.5 years, the same as the building you are renting.

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KarenJ
Intuit Alumni

Can I enter deduct tile floored improvement in my rental? Turbo tax depreciates the cost of the flooring over 27 1/2 years and I want to depreciate 7-10 yrs?

New flooring would be considered an improvement, not a repair.  New floors are expected to last the life of the property.  That is why they are depreciated over 27.5 years, the same as the building you are renting.

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