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?

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