barbgreenx
Level 3

Hello Pro Series Team

I have a client that has over 12 single family houses (rentals). I currently have a loss of

-17,799.00 with all properties combined. My final entry to make is a expense of $10,411

and $14,000. These  expense are for  major repairs to the sewer water line in the basement and

in the backyard of the property. Not sure if I should expense the repairs or depreciate it for 27.5

Thanks in advance

B Green

 

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Just-Lisa-Now-
Level 15
Level 15
were they repairs or replacements?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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PATAX
Level 15

Those amounts are quite large so I would imagine it has extended their life beyond one year, IE they may be capitalized improvements... This is just my opinion...