How to enter repipe on rental property

[psyadam]

We had a leak and had to do a repipe on our rental property which was around 18K  after repipe and asbestos remediation, etc. Since over 2500, I must take it as an asset depreciation over time. When I try to set it up, the options for this 'asset' are: 

1. residential rental real estate

2. Appliance, carpet, furntiture

3. Land improvements

None of those quite makes sense to me. Thinking number one, but I used that to put the rental property as an 'asset' two years ago. Recommendations on what to do please?

Thanks,

Adam

[MindyB]

The best choice for this is option #1.  It will be an asset in addition to the actual rental property. This would be considered a "major improvement" and thus will be depreciated in the same way as the rental, over 27.5 years.

Here's some information you may find helpful: Capital Improvements

[psyadam]

Thank you. Under that option it asks for 'land value'.  I filled out the true land value when I placed the home as an asset. I'm assuming this time I simply leave that as zero, as the pipes have no 'land value' per se. Can you please confirm?

Thanks,

Adam

[PaulaM]

Yes, leave the the land value as zero for this asset. @psyadam