I am buying a house for rental property. I need to put a stain concrete floor before putting it out for rent. Please advise how many years should I depreciate the cost of this project. Thank you!
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27-1/2 years. It's considered a building component.
But, since you are doing the work shortly after purchasing the property and prior to renting it; you do NOT depreciate it separately. You add the cost, of the floor, to the purchase price and depreciate (over 27.5 years) the entire house as one asset
27-1/2 years. It's considered a building component.
But, since you are doing the work shortly after purchasing the property and prior to renting it; you do NOT depreciate it separately. You add the cost, of the floor, to the purchase price and depreciate (over 27.5 years) the entire house as one asset
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