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

Forum|Forum|7 years ago
June 5, 2019
4 replies
52 views

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

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Best answer by MinhT1

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

MinhT1Answer

Alumni - Intuit

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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ipc1Author

Level 5

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?