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What category is my finished basement for a rental property in depreciation process?

I have the basement of my rental property finished last year. Including carpet, adding bathroom, framing, etc...I am working on depreciation. Only 3 options for the  question categorize this asset? 1.Rental Real Estate 2. Appliances, carpet, furniture 3.Land improments . Which one is right?

Also where can I enter depreciation that already occured in 2015?

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1 Reply
Carl
Level 15

What category is my finished basement for a rental property in depreciation process?

It's classified as Residential Rental Real Estate and will be depreciated over 27.5 years.

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