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Get your taxes done using TurboTax
See https://www.irs.gov/instructions/i1099msc#idm140364727413952 with respect to issuing a 1099-NEC.
If the foundation remediation is considered to be a repair, the cost is immediately deductible.
If the remediation is considered to be an improvement, then it is added as a separate asset in TurboTax and capitalized.
‎January 3, 2023
9:42 AM
1,731 Views