Hi @Carl Your reply here helped me very much with some issues I needed addressed about remodels I did in 2021. Thank you! Second, I hope you can help me with some specifics I am thinking about. I have 7 units in two multi families. I did 3 units in one multi-family in 20201. I am thinking about pulling the appliances out and doing the De Minimus Safe Harbor election to deduct as an expense. Is that all that I can claim under this election when thinking about a remodel? It was extensive in all three...bathroom & kitchen remodels in all three, painted all rooms, added a closet in two units. Also, I replaced HVAC in one. Would it be advantageous to pull that out and put on asset report separate, ie is there a special depreciation I could take for that?
Second, when I do claim the improvements on the asset report, would you claim the entire remodel on all 3 as a total or would you list them out for each unit? Does it matter? I am thinking of doing the latter.
Thanks in advance!
