Capital Improvement over 2 calender years - Granite Countertop SFH

[Jonathan12345]

Hi,

I am hoping a kind individual will help me with this question.

I am a small landlord that had new Granite countertops installed in my rental (Single Family Home). I purchased the granite myself from a company called uni in December 2023 and had it installed by a another company that picked up the granite in January 2024. This spans 2 calendar years. Do I do anything with my 2023 tax return or do I just put it as a capital improvement on my 2024 tax return and and include the granite purchase amount from 2023 in 2024?

[DavidD66]

You should add it as a capital improvement on 2024 tax return.  Technically you should add the granite as a non depreciating asset in 2023, and then move to a depreciating improvement in 2024 along with installation costs.  The results on your tax return will be the same.  If it were me, I would just add it in 2024.