Thank you TaxGuyBill.
I am confused with these two elections:
1. Which election to use for improvements, appliances, furniture, electronics ? Are these two elections completely exclusive and at the same time cover all the above scenarios(improvements, appliances, furniture, electronics) when combined ?
2. If it is ok for 2018 tax return to go back to 2017, how far back can we go ? Any year limit ?
3. When doing the expenses, does each item need to be entered separately, or one lump-sum number is allowed ? Example1: One receipt that has 10 items with each item being less than 2500. Ok to add up all 10 items into one lump-sum number and enter into TT ? Example2: 10 receipts from Example1. Ok to add up all 10 receipts into one lump-sum number and enter into TT ?
4. Just to confirm that, if I had repairs/maintenance/cleaning expenses incurred in 2017 where there were no rental activities, can I still deduct these expenses in the tax return of 2018 in which rental activities began ?
