- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Repipe of 3 unit rental property
I have to repipe a 3 unit rental property because one of the units has a pipe coming out of the slab that has corroded away. My understanding is that one way to handle to expense is to depreciate the cost over 27.5 years. That makes the deduction for the repair cost very small compared to the cost I have today.
Is there a reasonable method for expensing more this year since the repipe is a repair?
Perhaps splitting the total cost into 1/3 and 2/3 with 1/3 fully expensed this year and 2/3 spread out over 27.5. The 1/3 cost however will be above the di-minimus $2500 amount so I want to make sure it's reasonable.
Thanks!
Topics:
‎June 1, 2024
2:17 PM