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Updated over 5 years ago on . Most recent reply

User Stats

70
Posts
25
Votes
Jeff D.
  • Real Estate Investor
  • Portland, OR
25
Votes |
70
Posts

section 179/writing off apartment turns all at once

Jeff D.
  • Real Estate Investor
  • Portland, OR
Posted

Ok i'll try and be concise, and apologies if this has been answered already. Doing 2018 taxes (yeah i know, late). I had a multifamily remodel project happening in 2018.   2 units rented throughout construction, the rest under remodel.  Technically it was an active rental that whole time right?   So is there any way I can expense the remodels of the other 10 units as "repairs"?   Or do I have to depreciate them.  And if I absolutely have to depreciate them,  do I really have to break it down to a depreciation amount for each refrigerator,  each door,  each floor?   That will be a long list of 1000's of items to track over the next several years at tax time.   Yes,  I plan to have a cost seg at some point - but not right now under the gun.   Thanks!

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