Increase basis on rental ATX fixed asset manager

[Lloyd Hudson]

Client has a rental in Great Britain. Did kitchen remodel for 7K usd

intended to increase basis in property but do not know how to do it it in aTX 2013.

Just increase original basis is going to  change basis for all years. I think. Any notions? I thought to  add asset and reduce recovery to match property. Doable?

[Lee B]

I would just add a new asset called "kitchen improvements" and I believe the standard life for residential rentals would apply.

[Lloyd Hudson]

I would just add a new asset called "kitchen improvements" and I believe the standard life for residential rentals would apply.

Thanks, I actually started that then second guessed myself. LOL

This return always confuses me. He reports everything in pounds and I have to do the conversion. Keeps me thinking.