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March 22, 2020
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Entering assets that came w/the property...schedule E

  • March 22, 2020
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Purchased a new investment property. When entering the assets, such as the carpet, what do we add when it comes to the cost of the asset. The purchase was the entire home, so there is no dedicated cost to the items such as carpet, the oven etc.

    Best answer by CatinaT1

    The home purchase included all those things, so it is included with the property purchase.  Do not separate those assets out until they are replaced going forward.

    1 reply

    CatinaT1
    CatinaT1Answer
    March 22, 2020

    The home purchase included all those things, so it is included with the property purchase.  Do not separate those assets out until they are replaced going forward.

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