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tfergs90
New Member

Can I deduct improvement expenses made to a business asset? Bought a home to be used as an Air BnB rental. Made significant improvements to it, can I deduct these costs?

My husband and I own a real estate investing business, we buy homes, renivate them, and then put them on Air BnB as rental properties.  Can I deduct or depreciate the cost of the renovations/improvements made to the property? We added a $50k pool,  replaced the roof, and completely remodeled the inside.
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SusanY1
Expert Alumni

Can I deduct improvement expenses made to a business asset? Bought a home to be used as an Air BnB rental. Made significant improvements to it, can I deduct these costs?

You will enter major improvements in the Assets section of the Rentals & Royalties section of the program.  This section will then take the appropriate annual depreciation expense.

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Can I deduct improvement expenses made to a business asset? Bought a home to be used as an Air BnB rental. Made significant improvements to it, can I deduct these costs?

Is it still considered a rental property if this an asset acquired by our small business?  

Can I deduct improvement expenses made to a business asset? Bought a home to be used as an Air BnB rental. Made significant improvements to it, can I deduct these costs?

Is it still considered a rental property if this an asset acquired by our small business? 

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