I'm about to buy an IP with an empty inground swimming pool. The property is currently tenanted. The pool needs a new pool liner, a pump/filter, a cover and a safety fence installed! It will cost me over $10K for those items.
Can I claim deduction/depreciation on those items and at what rate per year?
Can I buy a safety cover & temporary cover the pool until we move in in 2 or 3 years time? There isn't an easy access to fill the pool up with soil. Is there any other options?
Thanks in advance
Regards
Huey
Can I claim deduction/depreciation on those items and at what rate per year?
Can I buy a safety cover & temporary cover the pool until we move in in 2 or 3 years time? There isn't an easy access to fill the pool up with soil. Is there any other options?
Thanks in advance
Regards
Huey