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Edie6
New Member

How do I figure it out the appropriate depreciation for hurricane shutters for a rental property?

 
1 Best answer

Accepted Solutions
PatriciaV
Expert Alumni

How do I figure it out the appropriate depreciation for hurricane shutters for a rental property?

It depends on the cost of the shutters. In general, adding features that increase a property's market value are capitalized over the life of the property (27.5 years).

However, you may be able to expense this cost by claiming the Safe Harbor Election for Small Taxpayers. If you qualify,  you would then be able to report the entire cost as a Rental Expense.

See the information below:

https://ttlc.intuit.com/replies/4682171

Click the Building Improvements subtopic for specific info.

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1 Reply
PatriciaV
Expert Alumni

How do I figure it out the appropriate depreciation for hurricane shutters for a rental property?

It depends on the cost of the shutters. In general, adding features that increase a property's market value are capitalized over the life of the property (27.5 years).

However, you may be able to expense this cost by claiming the Safe Harbor Election for Small Taxpayers. If you qualify,  you would then be able to report the entire cost as a Rental Expense.

See the information below:

https://ttlc.intuit.com/replies/4682171

Click the Building Improvements subtopic for specific info.

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