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We had to drill a well on our rental property where do I enter the expenses for that

we did not have a well, we shared with a neighbor before
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PaulaM
Employee Tax Expert

We had to drill a well on our rental property where do I enter the expenses for that

Enter a water well drilled for your rental as an improvement under the asset section of your rental summary. Select update, then select the 'add an asset' link.

Select Land Improvements under the Rental Real Estate Property. Generally, the water well will be depreciated over 15 years, but you may also qualify for an additional one time special depreciation amount.

See attachments.

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