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New Member
posted May 31, 2019 10:47:34 PM

Can I count the replacement of a few fluorescent light fixtures in a rental as repair (same cost to replace or repair)?

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1 Best answer
New Member
May 31, 2019 10:47:34 PM

Yes, you can treat these as repairs.

For future reference, you are able to treat any long-lived purchases that cost $2,500 or less (per item) as expenses instead of having to treat them as assets and depreciating them (the IRS de minimis rule).  Additionally, for you to be required to capitalize (treat as assets) building repairs, they need to add to the value of the building or extend it's useful life.

1 Replies
New Member
May 31, 2019 10:47:34 PM

Yes, you can treat these as repairs.

For future reference, you are able to treat any long-lived purchases that cost $2,500 or less (per item) as expenses instead of having to treat them as assets and depreciating them (the IRS de minimis rule).  Additionally, for you to be required to capitalize (treat as assets) building repairs, they need to add to the value of the building or extend it's useful life.