Hi, I hope you are still answering this message! I have two rental properties for which there are repairs/maintenance I want to expense. I sold one of the properties in 2022 that had a very low unadjusted basis of $83,000, and that has one expense over 2,500 ($2776) plus other fixing-up expenses. Would I need to do de minimis for this (NOT SHST) but then be required to send in a financial statement?
On the second property, with unadjusted basis of $185,000 and window replacement for $4,000 in 2022, I assume that also would require the de minimis safe harbor with a financial statement? And I believe an attached letter is also required?
If so on both, can I do one financial statement that includes both properties, and what format would that statement be? Is a one-page Annual Income Statement adequate or would I have to do monthly statements as well? Very confusing. Thanks very much. Marilee
