We improved the side yard, changing it to turf for more functionality and increasing the curb appeal, as well as repaired the garage door. These do not directly affect renters but are part of the home overall and affect curb appeal. Can these be included in the taxes? We are using a percentage of the sq footage to calculate deductions (or depreciation).
You'll need to sign in or create an account to connect with an expert.
You may allocate a portion of the repairs and improvements to the rental property. If you spent less than $10,000 on the rental portion, you may be able to elect the Safe Harbor Election for Small Taxpayers. This election allows you to expense up to $10,000 if you qualify. Otherwise, the costs are recorded as an improvement subject to depreciation.
This election appears at the beginning of the Assets/Depreciation section on the Rental Property Summary page. TurboTax will ask if you want to skip your elections. Check the No box and continue through the interview questions to see if you qualify.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
liondoor360
Level 1
ozzy032
Level 1
buly
Level 1
LuLuna
Level 3
gettindone
Returning Member
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.