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I have had rental home carpet upgrade i.e. removed carpet & added tiles. Since this is considered as an home improvement so where and how I enter this cost?

Do I need to take this cost over multiple years or can I use it in a single year tax return
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1 Reply
AmyC
Employee Tax Expert

I have had rental home carpet upgrade i.e. removed carpet & added tiles. Since this is considered as an home improvement so where and how I enter this cost?

Many years, 27.5 years since tile is permanently attached to the house. Follow these steps to add the tiles as an improvement to the house.

  1. Open to your rental and edit. 
  2. Select the assets section.
  3. Go to the summary 
  4. Add an asset
  5. Select rental real estate property to describe the asset
  6. Select residential real estate to categorize the asset
  7. Enter the description - tile floor
  8. Enter the cost - $xx
  9. cost of land - blank
  10. Date purchased
  11. continue
  12. I purchased this asset
  13. 100% business use, date placed in service
  14. asset summary shows this years deduction for the tiles

 

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