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Investors & landlords
If you did a major repair, you would not list it as an expense but would add it as an asset and then take deprciaiton.
For example say you repaired a roof for $2,000 you would expense it.
But say you replaced the roof for $25,000, then you would add the roof as an asset and take depreciation on it.
‎June 1, 2019
11:22 AM