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Updated over 6 years ago,
Renovations on Taxes?
Hello, I recently purchased my first duplex and will begin renovations. I plan to paint cabinets, get new fixtures and doors, and replace the old carpet with laminate planks, along with a few other smaller tasks.
How do I show these or catagorize these expenses? I want to use Cozy for my expense manager but do you ahve any other suggestions? Are these improvments supposed to be "depreciated" over a number of years? and if so how do I calculate that and add it to my tax expenses?
Thank you for your time!