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Updated about 6 years ago,

User Stats

25
Posts
4
Votes
Kip Cline
  • Rental Property Investor
  • Sault Sainte Marie, MI
4
Votes |
25
Posts

Are supply expenses deductible this year or added to basis

Kip Cline
  • Rental Property Investor
  • Sault Sainte Marie, MI
Posted

I am buying a house to fix up and rent. Are supplies such as paint brushes, blades, and other miscellaneous tools and supplies used to fix up the place deductible in the current year, or do they get added to the basis of the property and deducted with the purchase price along with other material used in the fix up?

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