topic What is the depreciation schedule for stain concrete floor for rental property? in Investors & landlords

What is the depreciation schedule for stain concrete floor for rental property?

Chris2 — Thu, 06 Jun 2019 14:13:31 GMT

I am buying a house for rental property. I need to put a stain concrete floor before putting it out for rent. Please advise how many years should I depreciate the cost of this project. Thank you!

27-1/2 years. It's considered a building component. But,...

Hal_Al — Thu, 06 Jun 2019 14:13:32 GMT

27-1/2 years. It's considered a building component.

But, since you are doing the work shortly after purchasing the property and prior to renting it; you do NOT depreciate it separately. You add the cost, of the floor, to the purchase price and depreciate (over 27.5 years) the entire house as one asset

Thanks a lot for the detailed answer!! This house is unde...

Chris2 — Thu, 06 Jun 2019 14:13:34 GMT

Thanks a lot for the detailed answer!! This house is under construction and will be closed in February 2018. I am thinking to take advantage of Black Friday to get some appliances for the house. If I buy these appliances now(November 17), keep them for a few months, Can I still choose to depreciate them in the future after they place in service in 2018? Please advise. Thanks!

Yes. In fact, that's the way you must do it.

Hal_Al — Thu, 06 Jun 2019 14:13:36 GMT

Yes. In fact, that's the way you must do it.