In ground sprinkler - increase basis?


S

Steve

Is the cost of an in-ground sprinkler system added to the
basis of the residence when it is converted to rental use,
or is that considered part of the land (which is not
deprciable)?

Thanks.
-Steve
 
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W

Wayne Brasch

Steve said:
Is the cost of an in-ground sprinkler system added to the
basis of the residence when it is converted to rental use,
or is that considered part of the land (which is not
deprciable)?
I would depreciate the sprinkler system on its own, separate
from the land or the structure.

Wayne Brasch, CPA, M. S. Taxation
 
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P

Paul A Thomas

Steve said:
Is the cost of an in-ground sprinkler system added to the
basis of the residence when it is converted to rental use,
or is that considered part of the land (which is not
deprciable)?
It tears up (trust me) and needs to be replaced every now
and then. Add it to your depreciable basis.
 

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