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Investors & landlords
The special assessment is actually more complicated than that. It depends on what it was for. If it was for maintenance and repairs then it's deductible. If it was for improvements then it is depreciable. You will need to figure it out and maybe break it into pieces if it was for both.
The new AC unit is depreciated as part of the rent unit over 27 and a half years.
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‎February 29, 2024
1:34 PM