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Updated about 6 years ago,

User Stats

21
Posts
3
Votes
Vincent C.
3
Votes |
21
Posts

cost-basis, repairs, capitalized improvements - taxes

Vincent C.
Posted

I'm wondering if there's a quick guide somewhere to see what things are part of the cost-basis vs repairs vs home improvements that need to be capitalized and depreciated.

Does anyone have a template or a spreadsheet to track these things + depreciation?

I purchased a rental duplex in PA, and am having some contracting work done to make the units rent ready + improvements such as installing a house meter for electricity. The property management company just lists the entire cost of the rent-ready work as repairs, but some are repairs and some are home improvements.

How would you go about it?

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