I have a single family rental that needed extensive electrical repairs while being occupied by a tenant. The work done was to rewire the house electrical from the main breaker box to all outlets. The cost was $21k. Is this expensed, or does it need to be depreciated? It was work needed for habitability. If it needs to be depreciated, over what time period? -- Thanks,
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Yes, it needs to be depreciated. It is an improvement. It has a useful life of 27.5 years, the same a the rental house.
Yes, it needs to be depreciated. It is an improvement. It has a useful life of 27.5 years, the same a the rental house.
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