MGC94
Level 7
03-10-2023
11:50 AM
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Taxpayer did $50K in improvements before rental in august, sept, oct.
Is there anything they can be written off/depreciated.
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6 Comments 6
sjrcpa
Level 15
03-10-2023
01:30 PM
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Keep it on one thread.
https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/rental/00/252279
The more I know, the more I don't know.
rbynaker
Level 13
03-10-2023
02:04 PM
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If we're cross-referencing then I suspect most of the facts are actually posted here:
TaxGuyBill
Level 15
03-10-2023
04:05 PM
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Improvements before it was available to rent are added to the depreciable Basis of the property.
sjrcpa
Level 15
03-10-2023
05:12 PM
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I missed that one Rick.
The more I know, the more I don't know.
MGC94
Level 7
03-10-2023
05:18 PM
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Thank you