austtam
New Member

A leak in my rental property caused damage to walls and floors. I hired a contractor to repair the damage. Is this deductible or does it need to be depreciated?

A pipe burst in the kitchen and caused damage in the wall, subfloor, and flooring.  The property manager hired a contractor to repair the drywall, subfloor, and replace the flooring. The original hardwood was replaced with tile.  Is this considered a deductible cost? Or is this an improvement that needs to be deducted?