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

depreciated or expense

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

 

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

2 Comments 2
Just-Lisa-Now-
Level 15
Level 15
were they repairs or replacements?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
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...