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xue_yh
Level 2
September 18, 2020
Question

Can I deduct foundation repair on a rental property?

I have done half of the foundation repair when the tenant moved in. Can I deduct half the cost as a house repair?

3 replies

mellish7777
Level 5
September 19, 2020

Capitalize improvements and deduct repair expenses.....you can't deduct repairs before the property is available for rent though.

Carl
Level 11
CarlLevel 11
Level 11
September 19, 2020

Understand that for repairs, it does not matter when the tenant moved in. Reparis incurred after the property was "available for rent" are deducted as such. Property improvements are capitalzed and depreciated over time regardless of when that property improvement was done.

More than likely your foundation repairs are property improvements. But only you can determine that. It depends on just what was done, and what it cost.

    xue_yhAuthor
    Level 2
    September 19, 2020

    Thank you Carl for your answer.

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