General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago,
Tax Deduction or Depreciation for Small Renovations?
I have a few small renovations I want to make to one of my rentals. Each renovation is inexpensive, and it would be so much simpler to treat them as deductions for the 2016 tax year rather than depreciate them over several years. Landlords, have you come across this situation before? What did you do? Did you just let Turbotax or your tax guy figure it out?
Here is my list of tiny renovations and their approximate costs:
- Add automatic ice maker to the freezer ($100)
- Upgrade all door handles ($350)
- Upgrade a few light fixtures ($200)
- Upgrade doorbell ($30)
These are not repairs in the strict sense; the freezer, door handles, light fixtures, and doorbell all work. I'm just upgrading them.