Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
o_almonte02
New Member

I installed an electrical meter on my rental property. Is that considered an expense or do I have to depreciate it over 27 years?

 
1 Best answer

Accepted Solutions
view2
New Member

I installed an electrical meter on my rental property. Is that considered an expense or do I have to depreciate it over 27 years?

Improvements to a building system are deemed an improvement to the building as a whole. You capitalize the improvement cost into the UOP of the building. [27.5 years depreciation]

   Electrical systems (including wiring, outlets, junction boxes, lighting fixtures and associated connectors, and site utility equipment used to distribute electricity from property line to and between buildings and other permanent structures);

View solution in original post

1 Reply
view2
New Member

I installed an electrical meter on my rental property. Is that considered an expense or do I have to depreciate it over 27 years?

Improvements to a building system are deemed an improvement to the building as a whole. You capitalize the improvement cost into the UOP of the building. [27.5 years depreciation]

   Electrical systems (including wiring, outlets, junction boxes, lighting fixtures and associated connectors, and site utility equipment used to distribute electricity from property line to and between buildings and other permanent structures);

Dynamic AdsDynamic Ads
Privacy Settings
v