Tallahassee Tax Service Rental Questions

Rental property improvements, capitalization

I get many questions regarding rental property improvements and depreciation.  Typically, any improvement or modification that adds value and extends the life of a property will need to be depreciated over a period of several years.  For residential property, this period is 27.5 years, and 39 years for commercial property.

Some improvements can be depreciated over a much shorter period of time.  When reporting expenses for your rentals, remember to add your mileage and out-of-pocked expenses for advertising, lawn care, and so forth.

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