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I paid $3000 down payment towards a window for my rental home in 2024. The window was installed in Jan. 2025 and another $3000 paid. Do I depreciate in 2024? How much?
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No, it will be depreciated in 2025 as of the installation date. When claiming it on your 2025 return you would include the total cost, including the down payment paid in 2024.
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