Where to fill in the cost to install a new furnace for rental property?

leo · ‎June 6, 2019

I installed a new furnace ($5000+) for my rental property. where should I enter the cost for that new furnace for rental property?

The rental property has been 100% used as rental for multiple years

maglib · ‎June 6, 2019

To get back to the question, go to your list of rental properties on the Rental and Royalty Summary page and click Edit beside the property name. You can enter it as assets/depreciation. Note you may be able to take a election to expense it in the current year , TT will walk you through this,

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