I need to reduce income just this year and don't know the best way to include the money I spent fixing up a rental.
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If you are able to break the improvements down (in a logical manner) to being $2,500 or less each, you are able to treat them as repairs expense instead of being required to capitalize (treat as an asset) them and depreciate them.
If you are able to break the improvements down (in a logical manner) to being $2,500 or less each, you are able to treat them as repairs expense instead of being required to capitalize (treat as an asset) them and depreciate them.
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