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Yes, you should depreciate the hot water heater.
Yes, you can deduct the labor fees as a repair/maintenance expense.
For more rental property deductions to income, follow this link:
IRS on Rental PropertyYes, you should depreciate the hot water heater.
Yes, you can deduct the labor fees as a repair/maintenance expense.
For more rental property deductions to income, follow this link:
IRS on Rental PropertyStill have questions?
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