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.
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.
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.