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Updated almost 8 years ago, 02/25/2017
Taxes - Lowes and Home Depot Receipts
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!