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Level 1
September 25, 2022
Question

New driveway for a duplex

  • September 25, 2022
  • 1 reply
  • 9 views

I had a new driveway put in for our duplex. We had a company pour concrete for both sides since our driveway was in need of repair.  I live in one half and rent out the other. I bought heating coils and put them in before the concrete was poured. How do I expense out these items?

 

Thanks,

 

Shirley Shryack

1 reply

Critter-3
Level 15
September 25, 2022

1/2 of the expense goes to the rental Sch E  and is depreciated over 15 years.  The personal 1/2 adds to your cost basis.