turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Deduct or Depreciate Improvements?

Hello, in 2023, I remodeled a bathroom in a rental property, and the cost for this improvement was approximately $10,150.  Is it correct to deduct this as an expense, rather than depreciate it as an improvement?  

 

I did review the "add an asset" section of Turbo Tax to consider adding it as an asset to be depreciated, but none of the choices seem to fit.

 

Ryan

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Deduct or Depreciate Improvements?

It would be appropriate to recover the cost of the remodel through depreciation deductions.

 

You would add the cost as an asset in the program and select residential real estate since the recovery period would be 27.5 years, the same as the underlying property.

Deduct or Depreciate Improvements?

Okay, but then it asks for the cost of the land.  How can I determine this?

Deduct or Depreciate Improvements?

Land is not material for improvements ... enter a zero. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies