Should the cost of repainting the interior of a rental property be depreciated rather than expensed if the property is also being improved?

ipc1 · ‎June 4, 2019

The improvements are: new windows and door, bathroom renovation, new boiler, kitchen modernization, new electrical wiring and fixtures, new carpet and vinyl.

MinhT · ‎June 4, 2019

The repainting of the rental property should be considered as part of the improvements. The cost should capitalized as an asset and depreciated.

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MinhT · ‎June 4, 2019

The repainting of the rental property should be considered as part of the improvements. The cost should capitalized as an asset and depreciated.

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ipc1 · ‎June 4, 2019

Hello TurboTaxMinhT,
Again, if I take the De minimis Safe Harbor Election and the cost of the painting is less than $2500, can I take it as an expanse?

MinhT · ‎June 4, 2019

Yes.

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ipc1 · ‎June 4, 2019

Hello TurboTaxMinhT,
Is the case that having made the De minimis Safe Harbor Election, then this has to be used for all applicable items?

Should the cost of repainting the interior of a rental property be depreciated rather than expensed if the property is also being improved?