DEDUCTIONS FOR RENTAL : ezLandlordForms

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Rose W

started a topic over 11 years ago

I put in new counter tops, flooring, sink, ceiling fan this year in my rental. Can I use as expenses on tax return?

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Jessica B

said over 11 years ago

I can't see why you wouldn't use those as a biz expense. I would certainly consult with your accountant.

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Dawn A

said over 11 years ago

That might be counted as "improvements" and need to be depreciated.

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Bob R

said over 11 years ago

Yes and No. It depends if you were replacing the items because they were damages or stopped working (Yes) vs remodeling (No). Remodeling costs are depreciated. The improvements appear to be remodeling, except for the fan if one already existed. -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.