Rental property remodel paid last year and also this year

[chunhuach]

I spent 300k remodeling my rental, it was done last year, placed in service, rented out, the cost will be treated as improvement and depreciate over multiple years.

Many sub contractors were hired. one of them forgot to give me invoice, and only gave me the invoice this year, and I paid him this year.

Question: do I have to depreciate this payment separately, starting for this year?

[tagteam]

Depreciation begins when the improvement (asset) is placed in service.

[chunhuach]

I've always heard that we use a "cash" based accounting, we need to " reports income in the year it is received, regardless of when it was actually earned."

So it does not apply here?

[tagteam]

Yes, start taking depreciation deductions in the tax year the asset was placed in service in the rental property.