Re: Adding the cost of a capital improvement to the basis of a rental property.

Donatello · ‎07-27-2020

I need to adding the cost of a capital improvement to the basis of a rental property for depreciation purposes. I can add it as a new Asset but it does not accumulate to the same rental property. I am looking for the way to correctly do this.

Many thanks

IRonMaN · ‎07-27-2020

But improvements are separate assets and a new asset should be created in the year that the improvements were put into use.

Slava Ukraini!

Just-Lisa-Now- · ‎07-27-2020

"I can add it as a new Asset but it does not accumulate to the same rental property."

What does this mean.....it does not accumulate to the same rental property?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Accountant-Man · ‎07-28-2020

You mean attach to the same property. You can change the activity in the Forms menu, while you are looking at the new asset sheet.

Every time you add a new asset, do it while looking at another asset in the same activity, then it will attach properly.

** I'm still a champion... of the world! Even without The Lounge.

Adding the cost of a capital improvement to the basis of a rental property.

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