To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.

I'm sure I'm missing items, but in a word, yes, this would be useful.  

You'll need to provide the essentials without going overboard on luxury items.

We have more maintenance requests but usually for smaller items.

It's great to ask these questions in the forums to get a feel for things but it's not a substitute for getting "official" advice from an REI-savvy tax pro that you have hired.Regarding what to deduct versus what to capitalize (and depreciate over time), your tax pro can walk you through that for each line item.

Make sure your lease stipulates its a "shared property" and list all the rules to make sure they toe the line, garbage, one vehicle(where parked), noise, no personal items in yard, everything you can think of or choose/whatever.

It's always a plus when you can get your property valuation increased and the tenant pays for the new item, just so long as your downside risk is mitigated, too.Good luck!

I didnt see my tax bill showing a line item.

You are the member of the LLC not an s corp or a c corp which owns the LLC - which is more traditional in syndications and other setupsSo that’s the confusing thing…They list as not exempt:1) corporations2) LLCs where one member is a corporationI feel like item 1 would disqualify ALL LLCs (since they are corporations).

It would be similar to a charitable gift.In a conservation easement, a real estate investor “donates” development rights on a piece of property to a qualified charity, public agency, or land conservatory.In return for the donation, they get a tax deduction as if they gave cash to a charity.Let's dive into the basics.Let's say you buy a 20-acre piece of real estate that includes a 5-acre self-storage facility.