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Investors & landlords
If what renovations you did count as repairs and maintenance on the house (just getting it all back in shape) then it is 100% deductible this year.
If what you did qualifies as improvements - changing things to make them better - then it needs to be deducted or depreciated over time.
Here is a link to the IRS guidance about rental real estate.
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‎January 23, 2022
4:42 PM