You'll need to sign in or create an account to connect with an expert.
New flooring would be considered an improvement, not a repair. New floors are expected to last the life of the property. That is why they are depreciated over 27.5 years, the same as the building you are renting.
New flooring would be considered an improvement, not a repair. New floors are expected to last the life of the property. That is why they are depreciated over 27.5 years, the same as the building you are renting.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
gilliam4investor
New Member
lbrackett
Level 1
sandrawa
Level 2
sandrawa
Level 2
dpfans
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.