This expression came about as a combination of the shift of profit from ordinary income to capital gain, the fact that the property is reported on two consecutive tax returns, and attorney interpretations of some old case rulings. 

Some of my tenants interpret that to mean they should schedule the payments in Cozy in advance so that it hits our account on the first.

There's furthermore a magnificent chance that any gesture you make with a book about home maintenance will be interpreted as an undercover effort to tell your tenant that they're on their own if something goes wrong and not to call you.

Your A/C and furnace are improvements to the HVAC building system, and thus the building unit of property.The $5,000 will most likely have to be capitalized, but there are caveats within the DMSH, as well as other options such as the small taxpayer safe harbor (STSH).Encourage you to work with your tax CPA/EA as they'll know your facts, circumstances, and goals.Eamonn, let m know if I am interpreting this wrong. 

I interpret this to include repainting - is this correct?   

Want to make sure I'm interpreting this correctly...Are you saying that if all proceeds from sale are invested in next property through 1031 and formerly refi'ed funds were invested in like-kind property, then it's all good?

IRC Sec 1402(a)(13) cannot be applied members of an LLC, even if the LLC is taxed as a partnership.As there is no statutory guidance, we must instead look to how the tax court interprets the issue, and there's been a string of recent case law that's helpful. 

I've read the law and am not able to interpret it clearly, so I'm giving the scenario in hopes for a clearer answer/explanation. 

Multi can be interpreted differently by many.

You can read the statutes, but they are full of legalese that you may have trouble interpreting if you’re not an attorney.