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Updated over 10 years ago,
Major Renovations to Rental Property Depreciation vs Expense
So I'm looking at buying a single family house that has great numbers as a rental property. But needs carpet, paint and kitchen/bathroom remodel.
I know the Bathroom Remodel / Kitchen remodel are depreciated over the 27.5 years.
Since I'm doing a mini-rehab on the house, does carpet still get depreciated as normal over 5 years or would it be wrapped into the whole project?
Can paint (and other small repairs) still be expended like it normally would or does it have to get wrapped into the project and be depreciated?