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Get your taxes done using TurboTax
The terms are simply technical terms and you need to use your judgment with respect to which costs to expense and which costs to capitalize.
The words are confusing because they actually make no sense; "betterment" is troubling because just about any repair has the effect of making whatever is repaired "better" (e.g., replacing a broken window makes the entire property "better" than it was when the window was broken).
‎January 8, 2024
3:15 PM