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samachar
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What would be depreciation life of a major renovation cost year BEFORE the rental sell?

 
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What would be depreciation life of a major renovation cost year BEFORE the rental sell?

Was it just before selling, and after it was available for rent?  If so, don't enter it as depreciation, just add it to the basis of the property.

If it was still available for rent and it was placed in service in the same calendar year, don't enter it as depreciation, just add it to the basis of the property.

If it was still available for rent and it was placed in service in a previous year before it was sold, it is depreciated as any other asset.  If it was an improvement to a Residential Rental Property in the United State, it would be depreciated over 27.5 years.


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