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drrupard
New Member

How to take depreciation on an in-ground pool for a rental property. The pool was already installed when I bought the rental, so I didn't pay for the pool separately.

I was told I could take depreciation.  If so, what do I check on the section "Tell Us About This Rental Asset"?  a) I traded in an old asset to acquire this one, b) I purchased this asset new, or c) the item was sold, retired, etc?  Do I add it somewhere else?
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4 Replies

How to take depreciation on an in-ground pool for a rental property. The pool was already installed when I bought the rental, so I didn't pay for the pool separately.

You would not do that. You are already depreciating the property with all the improvements it came with when you bought it.

drrupard
New Member

How to take depreciation on an in-ground pool for a rental property. The pool was already installed when I bought the rental, so I didn't pay for the pool separately.

Thank you! Could I take depreciation on the land value, given the in ground pool?
Hal_Al
Level 15

How to take depreciation on an in-ground pool for a rental property. The pool was already installed when I bought the rental, so I didn't pay for the pool separately.

No
drrupard
New Member

How to take depreciation on an in-ground pool for a rental property. The pool was already installed when I bought the rental, so I didn't pay for the pool separately.

Thank you for your help.
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