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How do I figure the depreciation on repairs made to a rent house?

The house has been re-plumbed and 1000 sq ft of new floor tile. There has been new carpet as well, but I think that is a 5 yr depreciation. - And is depreciation figured by dividing the cost among 5 yrs, so a $1000 carpet job would be a $200 deduction every year for 5 years? (I am trying to help my 77yr old mother)

Public Comments

1. See irs publication 946. Even if the carpet is 5 year property, it's not as simple as 1/5th per year. You actuall depreciate over 6 years. A little in year 1, 1/5th in years 2-5 and a little in year 6.
2. You need a depreciation table from the IRS. Something that depreciates on a 5 year table, actually takes 6 tax years. Part of one year is split between the first and six years. And the schedule moves more of the deduction earlier in the item's life. Plumbing (I believe, don't hold me to this) is depreciable on a 20 year schedule. Carpeting and floor tile are both on the 7 year schedule.
3. There are depreciation schedules that are completed with the return. This is an area that is VERY complicated. Whatever tax return program used should be able to help you. This MUST be tracked for the whole time the property is owned. If it is sold before the depreciation is completed, that's a different issue. Sorry I can't help more than this. Our tax prep software does all the calcs for our clients.