Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

water tank cleaned and painted inside capitalized or expensed

Highlighted
last updated ‎February 19, 2020 3:02 PM

A water tank cleaned and painted inside capitalized or expensed.

This water tank supplies water for a mobile home park.

 

0 Cheers
1 Solution

Accepted Solutions
Highlighted
last updated ‎February 19, 2020 3:02 PM


Thank you for clarity! The inside was cleaned and painted.

View solution in original post

0 Cheers
5 Replies 5
Highlighted
Level 15
Level 15
last updated ‎February 19, 2020 3:02 PM

Cleaning and painting sounds like an expense to me.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Highlighted
last updated ‎February 19, 2020 3:02 PM

Well the expense is $ 11,800.00.

0 Cheers
Highlighted
Level 15
Level 15
last updated ‎February 19, 2020 3:02 PM

The cost doesn't change what it is.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Highlighted
Level 12
last updated ‎February 19, 2020 3:02 PM

Was it painted or sealed? Tank "diving" is a routine maintenance activity. Sealing would extend the life of the tank.

*******************************
"Level Up" is a gaming function, not a real life function.
Highlighted
last updated ‎February 19, 2020 3:02 PM


Thank you for clarity! The inside was cleaned and painted.

View solution in original post

0 Cheers