Where to add a new depreciated item for apartments owned?

[CaddyGrn]

Running TT 2025 on a Mac Mini.  The program seems to change quite a bit, and the questions do not include everything.  The program hasn't asked me if I made any improvements to my rental property, etc.  Where do I add improvements?  (I had a wheelchair lift installed). I want to determine if I should depreciate this over time, or if it falls under the maximum to claim the cost fully this year.

[AmyC · Accepted solution]

Improvements are listed as assets. Follow these steeps to explore the possibilities:

Open to your rental schedule and locate the assets section.

Program asks Did you buy any items that cost $2500 or less? Select your answer based on the cost of the lift. If the lift was $2500 or less, the program will let you take it all here.

If over $2500, select intangibles to enter the lift.

Program asks Do you want to take the Special Depreciation Allowance? If you installed the lift after January 19, 2025 you can take the Special Depreciation Allowance of 100% and write off the lift this year. Select Yes

You do have another option: deduct up to $15,000 this year because it is a wheelchair lift- it is a removal of architectural barriers. You would not list as an asset. It is just an other expense. Description: Section 190 barrier removal.