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xhuang03
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I had asbestos popcorn ceiling removed from my rental property. Can I deduct the cost on tax return as landlord? Thanks.

 
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I had asbestos popcorn ceiling removed from my rental property. Can I deduct the cost on tax return as landlord? Thanks.

Yes, you are able to deduct the costs of asbestos removal as a repair.  Please follow the instructions below to enter the repair costs:

  • With your return open in TurboTax, search for rentals and then click the "Jump to" link in the search result.
  • Answer Yes to the question Did you want to review?
  • Click Continue when you reach the So far You're not a Real Estate Professional.
  • Click Edit next to your rental
  • Follow the on-screen instructions as you proceed through the entire rental and royalties section.
  • We'll first ask you to enter general information about your rental (description, address, ownership percentage, etc.) 
  • Eventually, you'll come to the Rental Summary screen where you will click Start next to Rental Expenses

Let me know if you have further questions.


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