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Repairs and Maintenance Expenses
I have repairs and maintenance expenses for Equipment such as mowers, heavy equipment and lawn equipment. Under Repairs and Maintenance Expenses, the tax guidance in turbotax says, "
If you make an improvement to your business space or equipment that increases its value or lengthens its life, you cannot deduct the full cost this year. Instead, you should write off the expense over several years." My question is how do I write off the expenses over several years?
‎October 6, 2023
1:15 PM