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