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Updated over 4 years ago, 07/22/2020
how complicated does depreciation need to be?
I'm doing my taxes for 2017 now. I've had a duplex since 2012, with tenants in it since 2013. 2017 was a particularly rough year--my property management company has recorded $5700 of repairs that were done, and in between tenants I performed another $1900 of repairs and upgrades (new cabinets). I hate dealing with depreciation and determining what is a repair (usually is) vs. improvement, but it looks like I need to capitalize this if repairs are more than 2% of the basis. So, if I need to capitalize all this, I'm wondering how to make this simpler--can I lump them all into one capitalization for 2017? Or does each month need its own schedule? Or every purchase? I have 20 receipts to Home Depot for the year...