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Investors & landlords
If the jobs were one large repair/improvement job vs several separate repairs or improvements is what you would look at to determine if it was one large job or several smaller jobs that could be depreciated over different class lives.
Repairs are deductible in current year vs improvements are depreciable over qualifying class life.
Refer to the following IRS Publication 946 for additional information on depreciation:
IRS Publication 946, Depreciation
Refer to the following IRS publication 547 on Residential Rental Property:
IRS Publication 527, Residential Rental Property
‎February 28, 2021
5:29 PM