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| "Jason" <jasonnews[at]mail.com> wrote: - quote - > I've got a question. If I buy a rental property that I keep
Jason,> for say 10 years. The homes in my area are very old and need > updating. I usually spend about the 1st few months > renovating the house to be livable and then do a major > project once every year when the tenants move out. Say > renovate a bathroom one year. The kitchen the next, new > windows the next. ect. ect. > My question is am I required to depreciate each improvement > on it's own schedule? or can I just depreciate the property > on the starndard 27.5 yr and then just deduct the > improvements when I sell the house? Each would require a separate set of depreciation calculations. -- Regards, Mark X Rigotti << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| "Jason" <jasonnews[at]mail.com> wrote: - quote - > I've got a question. If I buy a rental property that I keep
Actual real property improvements are always capitalized and> for say 10 years. The homes in my area are very old and need > updating. I usually spend about the 1st few months > renovating the house to be livable and then do a major > project once every year when the tenants move out. Say > renovate a bathroom one year. The kitchen the next, new > windows the next. ect. ect. > My question is am I required to depreciate each improvement > on it's own schedule? or can I just depreciate the property > on the starndard 27.5 yr and then just deduct the > improvements when I sell the house? depreciated and not deductible. -- David M. Woods, EA Boston, MA 02109 Postings here are general information only and not to be relied upon as advice. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| Hello, I've got a question. If I buy a rental property that I keep for say 10 years. The homes in my area are very old and need updating. I usually spend about the 1st few months renovating the house to be livable and then do a major project once every year when the tenants move out. Say renovate a bathroom one year. The kitchen the next, new windows the next. ect. ect. My question is am I required to depreciate each improvement on it's own schedule? or can I just depreciate the property on the starndard 27.5 yr and then just deduct the improvements when I sell the house? THanks j << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| depreciation, property, question, rental |
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