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Level 2
posted Jan 23, 2021 8:17:22 PM

categorizing an irrigation system on my rental property

I'm trying to add my new irrigation system in TT so that I can depreciate it.  Do I add it as a "residential rental real estate", "Appliances, carpet and furniture", or "land improvement" asset?

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1 Best answer
Expert Alumni
Jan 24, 2021 7:36:54 AM

Since it attached to the land, it is considered a land improvement.

1 Replies
Expert Alumni
Jan 24, 2021 7:36:54 AM

Since it attached to the land, it is considered a land improvement.