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    asset capitalization in rental

    What is the class life in depreciation for installation of 2nd water meter to segregate front and back house?

    #2
    I had a similar situation few years back. My client who owned a very large home decided to apply for a use change to convert his single family home into 2 units (mostly rented to executives who are on a short term assignment). At that time he had to install separate electric, water and gas meters and also separate out the plumbing. Used 27.5 years for depreciation. If I recall correctly the total cost to do those changes was like $15,000.
    Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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      #3
      Thanks for the reply

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