Depreciate or Repair

[Scott McMillan]

My SFH became vacant for the first time in 6 years this month and I have been doing a lot of repairs. I do my own taxes so I am unsure about a couple of items are repairs and can be expensed or if they need to be depreciated.

New Clothes Dryer

Replaced carpets with laminate floors

Thanks for any help!

[Michael Bertsch]

You can deduct all of it this year using the de minimis safe harbor but each item has to be under $2500. If you went over on your flooring, it has to be depreciated. It will be an improvement. If you decide to use that safe harbor, you must adopt that accounting method and use it every year.

I'm not a CPA so please consult with one.