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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?
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‎June 6, 2019
12:16 PM