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Returning Member
posted Aug 19, 2019 7:07:58 AM

election expense

Does "all repairs, maintenance and improvements" include the improvement that I want to expense using the election expense option for the 2018 tax year?

0 2 360
2 Replies
Level 5
Aug 19, 2019 10:03:09 AM

what's the improvement? use the 2500 safe harbour or expense 50% the 1st year 

Level 15
Aug 19, 2019 6:43:39 PM

With some exceptions, property improvements that cost less than $2500 can be expensed. That did not change with the new tax laws. If you need to know if your property improvment is one of those exceptions, then you need to let us know what the improvement was.