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JR 1
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Rental Residential Property Improvements

I purchased a Rental Property that I have done some major remodeling/improvements. Can I Segregate each capital asset by its recovery period individually or does everything have to be added as a new asset using the same recovery period as the building structure (27.5 years).

For example, can I segregate the improvements by its specic useful life per IRS tables:

ItemLife
Light Fixtures 5
Carpet & Flooring5
Furniture5
Appliances5
Cabinets5
Land Improvements15
Countertops27.5
Windows27.5
Doors27.5
HVAC27.5
Water Heaters27.5
Remodels27.5
Improvements27.5
Residential Building27.5
Commercial Building 27.5
Land  0
Closing Costs 27.5

 

Thank you1

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1 Reply

Rental Residential Property Improvements

Read the first couple of pages of the (IRS) PDF at the link below.

 

https://www.irs.gov/pub/irs-pdf/p5653.pdf

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