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You will need to select that 2017 was the first year you rented this property. (See First Year Rented image)
If you have trouble to getting to the screen above, please follow steps
Once you have selected first year rented, follow the screens until you get the the 'Any Property Improvements Made?' screen. (See Property Improvements Image)
Before entering any improvements, please read the following FAQ to determine if you do have improvements that can be added to the basis of your rental property:
You will need to select that 2017 was the first year you rented this property. (See First Year Rented image)
If you have trouble to getting to the screen above, please follow steps
Once you have selected first year rented, follow the screens until you get the the 'Any Property Improvements Made?' screen. (See Property Improvements Image)
Before entering any improvements, please read the following FAQ to determine if you do have improvements that can be added to the basis of your rental property:
You would go to the asset that was placed in service and change the cost (or basis) by adding the cost of the improvements to the cost basis already listed there.
For example, if I have a building listed as $80,000 and did news windows a few months before renting it out, I can add the cost of the windows and installation of them to the $80,000 in computing my deprecation.
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