I did a major remodeling project on a rental house in 2023. Placed it in service May 1st 2023. When I add an asset to the property, the next question TT asks is "Describe the Asset". None of the selections seem to fit my improvement project. Can anyone talk me through adding this asset?
The total project would have a recovery period of 27.5 years, the same as the underlying property.
Thus, select Rental Real Estate Property from the list and then Residential Rental Real Estate.
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