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Investors & landlords
Does the cost of interior painting, which was done as part of the whole project, need to be separated out as a repair, and is there a way to do that without an itemized invoice?
yes it can be deducted as a repair but you have to know the amount. If audited the IRS might want to see the bill. so contact the contractor to see if they will provide a more detailed invoice.
The new flooring had to be replaced in one room after just a few months, before the property was even rented. Would I be correct in including this cost as a repair?
was the new flooring that had to be replaced part of the $25,000? who paid for the replacement? how much? did you recover anything from the contractor for the substandard work?
it would seem the original new flooring would be a capital cost while the cost of replacement would be the repair.