How do I categorize new flooring for a rental property? There doesn't seem to be a clear option to select. It isn't land improvements, residential real estate, intangibles, nonresidential real estate, or qualified improvements. The only remaining option is Other (which warns to only select this if well versed in rules of depreciation, which I am not).
You will depreciate new flooring in a rental over 27.5 years since ceramic tile is considered permanent. Just choose residential real estate as the depreciation option and that will calculate the 27.5. It's the same calculation that's used to depreciate the house.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
