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ao1022
Returning Member

Improvements to property that I rent out.

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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3 Replies

Improvements to property that I rent out.

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.

 

Carl
Level 15

Improvements to property that I rent out.

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.

ao1022
Returning Member

Improvements to property that I rent out.

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

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