Recovery Period for Basis of Property Changed to Rental Use I converted my house to a rental on 5-1-2015 and am trying to figure out the recovery period for the house plus improvements and whether or not they need to be calculated separately.
Q1) Do I need to apply different recovery periods to improvements such as new carpet, sump pump, garage door opener? As these improvements by themselves seem to be listed as having a different recovery period than the residential rental property itself. Or are these improvements all considered as a part of the residential rental property for the basis and depreciated at the same rate (When the house is first put into service as a rental)? |