topic Improvements to property that I rent out. in Deductions & credits

Improvements to property that I rent out.

ao1022 — Wed, 02 Feb 2022 19:56:16 GMT

I just recently remodeled the entire backyard and spent around 16k. I was wondering if this would be considered as improvements under Assets/ Depreciation for the rental?

Re: Improvements to property that I rent out.

Mike9241 — Sat, 05 Feb 2022 18:53:58 GMT

what exactly was done to the backyard? what you did could be land improvements that have a shorter depreciable life than if you built a garage.

Re: Improvements to property that I rent out.

Carl — Sat, 05 Feb 2022 19:14:41 GMT

I was wondering if this would be considered as improvements under Assets/ Depreciation for the rental?

Yes. Anything that increases the value of the property is a property improvement and gets entered in the assets/depreciation section.

Generally, while for the most part, land improvements are not depreciated, they are still entered to show the increased value of the property.

Re: Improvements to property that I rent out.

ao1022 — Sat, 05 Feb 2022 20:01:31 GMT

Complete renovation. I had new sod put in, plants/ fruit trees, pavers/ fireplace and irrigation system installed.