turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening NOW!!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

What is % I get back from repairs on my rental property

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Carl
Level 15

What is % I get back from repairs on my rental property

Zero precent. The government does not subsidize repairs to rental property. However, a bonified repair expense is deductible from your taxable rental income.

But what "exactly" are you calling a repair? There is a difference between a repair and a property improvement, and each is reported/claimed in it's own way. For example, a new roof that costs you $10,000 is not a repair by any stretch. It's a property improvement and must be reported as such. Whereas replacing that broken $15 doorknob is a repair, and is reported as such.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies