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Updated almost 4 years ago,
Replace primary residence HVAC now? Or once I have tenants
Newbie here.
My HVAC needs to be replaced in my primary residence condominium. It’s still working but it needs to be replaced in the near future because it’s old.
I plan on moving out in six months and renting it out. Will be my first rental.
From a tax (and any other factors) perspective should I go ahead and replace it now or wait until I convert the property to a rental? From what I understand this would be a capital improvement which can be depreciated over 27.5 years but not sure how helpful that is and if it will help my spouse and I (both W2) on our personal taxes.