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Updated 12 months ago,
Rental Rehab (Capital Expense) & then safe harbor small updates later in the year
I'm doing a large scale renovation on one of my rental properties, and have a question that I can't seem to find an answer to.
As I understand it, anything done as part of a larger renovation (even if it normally could be deducted under a safe harbor) is a capital expense, right?
Question: If I do a small project later in the year (that fits under one of the safe harbors) can I take the full deduction? Or do I have to wait until the next year?