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Updated over 6 years ago, 07/31/2018
CapEx or Maintenance - New property 1st turnover
We recently bought an 8-plex and just had our first move out. The tenant did a good job at cleaning it out but you can tell the landlords over the years haven't given it a lot of TLC. We decided to replace a lot of small things and I'm wondering if it's considered maintenance or capital expenditures from a tax deduction point of view. Examples would be new toilet, door knobs, light fixtures, blinds, faucets, etc.
Can all these items plus labor be deducted?
Thanks BP community!