topic Improvement depreciated 2023 or 2024? in Business & farm

Improvement depreciated 2023 or 2024?

slara22 — Wed, 11 Feb 2026 04:32:12 GMT

Hello,

I signed a contract to replace the windows of our home in November 2023, and paid the 1st installment of the cost then.

In January 2024, I paid the 2nd installment. This week (Feb 2024) we will have our windows installed and we will pay the 3rd and final installment.

Should I depreciate the cost of this improvement in my 2023 or my 2024 taxes? I have a home office and plan to depreciate it, just want to make sure when I should do that.

Thanks in advance!

Re: Improvement depreciated 2023 or 2024?

DoninGA — Sun, 04 Feb 2024 17:01:30 GMT

Since the installation was not completed until 2024, you would depreciate them on the 2024 tax return next year.

Re: Improvement depreciated 2023 or 2024?

slara22 — Wed, 07 Feb 2024 00:59:46 GMT

Thanks!