Can I list appliance purchases and renovation materials in groups under equipment etc? Can I add items on an extra sheet of paper if I run out of room?

[firstechogirl1]

Do I claim the landscaping costs and purchase of a fountain and garden lighting and lawnmower  tools etc. as capital costs or current costs and can I group costs together?  If not can I add a sheet with the info printed on it?

[Delphision · Accepted solution]

Assuming this is a rental unit or a residence held for sale:

1. The appliances are assets

2. The lanscaping costs would be added to the value of the residence and only used as an additional outlay cost when the residence was sold to reduce capital gains. The same thing with the fountain and lighting.  They add to the value of the land, but not the rental unit.

3. The only materials that are deductible are repair and maintenance items once the residence is rented.  Renovation prior to renting is added to the value of the building similar to the additions to the value of the land to reduce eventual capital gains.