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Deductions & credits
Thank you. When I saw the screen read "When you come to the screen, Did you buy any items that each cost $2,500 or less in 2021? mark the Yes button and click Continue. " ....I am now thinking this is an option to not treat a $8,000 cabinet remodel as an improvement since all my receipts for this were less than $2,500. It seems from the language that I can use de minimis safe harbor for the whole remodel and I need to itemize all these as miscellaneous expenses. This will give me a big loss for the year on the rental unit but it seems like this is an option to me. Any thoughts?
March 1, 2022
10:11 AM