@rhodion while agreeing with the excellent replies by @PattiF and @JosephS1 , a rule that is often used is if the improvement/asset lasts more than a year and /or costs more than $1000, then it should be looked into whether it can be classed as an asset with a life. Fertilizing / trimming etc of a tree to help it survive/ do better may cost a bunch but lasts only for the season and ( unless you are in a farming business ), does not increase the valuation of the underlying / attached asset -- the house . However, in the same situation i.e. whole bunch of fruit trees being serviced / maintained and thus increasing the value of the farm may have a different outcome -- depends on exact facts and circumstances.
On a new coat of paint --- done say a two years before the sale of the house does not increase the value of the house appreciably and would be either a personal expense, but if it is done precisely because of trying to sell the property this would be sales preparation expense and deductible from the gains.
Does this clear up or confuse more ?
