I have a lot of questions about what's considered an improvement (I) or an expense (E). The following is a list of projects I completed in 2021 and would like to know if my categorization of them is correct or not.
- Replaced a window (I?)
- Painted the interior of one unit (E?)
- Painted building's exterior and landscaping (I? The purpose was to freshen it up for putting on the market to sell.)
- Replaced a staircase and painted the area (I?)
- Replaced a vanity, light, and heater fan (I?)
Most of the above projects did not exceed $2500 though. Even for those that are improvements, can I still deduct them as an expense rather than enter as depreciation? If they need to be depreciated, will they be categorized as land improvements?
