We bought new carpets last year, approx $2000 for the rental property. I need to do our tax return now and would appreciate any help.
I have an existing tax depreciation schedule which I've used for the last few years. I'm assuming with the new carpet, we have to somehow add it to schedule and take off the value of the old carpet?
Is that as easy as it sounds??
I have an existing tax depreciation schedule which I've used for the last few years. I'm assuming with the new carpet, we have to somehow add it to schedule and take off the value of the old carpet?
Is that as easy as it sounds??