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Investors & landlords
Report it on Schedule E and you will have the option of expensing those items.
Kathryn is correct, but she may be assuming that you are reporting the rentals as a business and using Schedule C.
Since you are not claiming to be a Real Estate Professional, please enter the electrical panels on your Schedule E. Depreciate the items or claim the full amount of the electrical upgrade on your 2020 tax year return.
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March 1, 2021
3:46 PM