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Updated almost 2 years ago on . Most recent reply

User Stats

42
Posts
16
Votes
Bryce Nurding
  • Investor
  • United States
16
Votes |
42
Posts

Expensing and Capitalizing property construction

Bryce Nurding
  • Investor
  • United States
Posted

So I have some tax questions that can be difficult to get answered. 

I recently had new floors installed in a condo I own and run as a rental. The floors were installed by Lowes and I have a receipt showing material versus labor costs. 

I can expense the labor costs (installation), right? 


For a sewer line replacement... same thing? With receipt showing difference in materials and labor, I can expense all the labor?


For tracking these itemized transactions in Stessa, I intend to post each itemized part of invoice seperately with invoice attached to easily seperate the parts that must be depreciated versus those that may be expensed.

Most Popular Reply

User Stats

73
Posts
10
Votes
Matt Bontrager
  • CPA
  • Henderson, NV
10
Votes |
73
Posts
Matt Bontrager
  • CPA
  • Henderson, NV
Replied

Labor and material count toward one total cost basis.

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