An asset is property that has a determinable life span of more than one year that will wear out or decay. The asset must be used in the rental or held to produce rental income. Its initial cost must be depreciated under the IRS rules. An asset can be the rental property itself, a new roof, a new stove and refrigerator, landscaping, etc.
After you finish your federal tax return, your information will accurately and automatically transfer into your state return. Just answer a few state specific questions, and you're done.
CompleteTax State is only $34.95 and includes: