- MymoneyParticipant@mymoneyJoin Date: 2015Post Count: 1
During the 7 years that I held my investment property (new house when I purchased it) I have placed new carpets and blinds throughout as the old ones were worn. The useful life of these is 10 years (or whatever the Tax Office’s useful lives are for each). I sold the property this year. The carpets and blinds have not yet fully depreciated, so does anyone know What happens to the remaining depreciation which I have not yet claimed as a tax deduction? Can I claim what’s left as a “balancing adjustment” in this year’s tax return? I am assuming I don’t do anything and just forgo the remaining depreciation just like with the building depreciation, but thought it was worth asking about. Thanks.