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Updated almost 8 years ago, 02/25/2017

User Stats

219
Posts
88
Votes
Dan D.
  • Investor
  • Shakopee, MN
88
Votes |
219
Posts

Taxes - Lowes and Home Depot Receipts

Dan D.
  • Investor
  • Shakopee, MN
Posted

I am getting prepared for taxes and I'm reviewing many of my expenses for a property in the last year.

Do I need to categorize my home depot and Lowes expenses based on whether the item was purchased was used for a repair, such as painting something, or an improvement, such as backsplash tile?

Or since I was rehabbing the whole house prior to renters moving in, does it count all as improvements?

Also, how about the purchase of tools?

Sanders / paint brushes?

Thanks in advance!

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