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Updated over 5 years ago on . Most recent reply
section 179/writing off apartment turns all at once
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!