Where do I include home improvement depreciation for rental property on form 4562?

June 27th, 2011 | by admin |

I bought rental property in 2010 and rehabbed it before renting it out. I know that the home improvements should be depreciated. I don’t know where to include it on form 4562. Do I add it to the purchase price (minus the land value) and make one entry? Or do I enter home improvements and building depreciation on separate lines or separate forms?

Get yourself a copy of TurboTax Premier edition and it does all the dirty work for you. The best $70 I ever spent!

  1. 2 Responses to “Where do I include home improvement depreciation for rental property on form 4562?”

  2. By Herrmann on Jun 27, 2011 | Reply

    "Or do I enter home improvements and building depreciation on separate lines"

    Yes, it is a separate depreciable item/event.
    ___________________________
    And it also has the same life as the building.
    References :

  3. By falsi fiable on Jun 27, 2011 | Reply

    Get yourself a copy of TurboTax Premier edition and it does all the dirty work for you. The best $70 I ever spent!
    References :

Post a Comment