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I have a number of rental properties – this year I have had to replace the complete HVAC in two of them. The houses both had HVAC to start with – so does this count as a repair or a capital expense to be depreciated? If this must be depreciated, what schedules are available? Adding to the property makes sense; the life expectancy of a HVAC system is only 10 years.
What type of an air conditioner do you want to depreciate?
This is a Rheem central heat/aid conditioning package unit, not a window unit.
I am not understanding. How is this an "improvement" when it is replacing an existing (but now broken) unit?