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Updated almost 3 years ago, 01/26/2022
Depreciation treatment of swimming pool
I purchased a single family rental property in 2005. It included an inground swimming pool. In 2021, the pool was abandoned and demo'd. I never did a cost segregation study so I have been depreciating the entire purchase cost over 27.5 years. How do I account for the $12000 demo cost and do I need to adjust depreciation?