Is a new oven in a rental property considered an improvement? Do I add it in that section? I've already included cost of the new oven under rental repairs/maintenance.
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1 Replies
Coleen3
Intuit Alumni
Jun 4, 2019 2:09:34 PM
It is not an improvement nor is it a repair. It is an asset with a five year life and must be depreciated separately from the house.