First Rental- Upgrades and taxes

[Steve Maye]

I have wanted to get in to rentals for a while. Kept dragging my feet. Now I have to move and plan to rent out my current home.

Question- I planned to replace my front windows. Now I wonder if these could be claimed as repairs if a rental.

Can I replace these windows and claim as repairs as a deduction?

Does this get subtracted directly from the income I receive for rent?

I am still in the house. Can I do the repairs before a renter moves in?

[Amanda Hensley]

As far as I understand it, window replacement is defined by the IRS as an "improvement" and must therefore be depreciated over a time period. It is not considered an expense which could be deducted from your rental income. Disclaimer: I am no accountant or tax person.

Check out http://www.irs.gov/publications/p527/ch01.html#en_US_2010_publink1000218979