I own a triplex rental apartment building and I installed a brand new vinyl fence that cost $9,800 in 2022.
Unfortunately, I cannot use the Safe harbor Election for Small Taxpayers for this improvement because I do not meet the 2% of the unadjusted basis requirement. The original cost of my building was $280,000 x 2% = $5,600
I would like to know if there is a way that I can deduct/expense the full cost of my new fence?
Thank you in advance,
David
