My condo is a rental property. I have rented it for over 2 years.
Last year around September My tenant said the air conditioning went out. A vendor went out to assess it and said the air condenser needs to be replaced and the ductwork in the attic had to be replaced. It cost me about 8 or $9,000.
I am simply wondering if I can deduct that off my taxes.
While I was trying to do my taxes it was confusing because it made it seem like if I do deduct the cost then I cannot use it for depreciation. Whatever it was talking about really confused me.
Can anyone help me understand simply the two options I have?
