topic Live in building w 3 rental units. Removed OLD asbestos insulation from boiler pipes. Didnt replace ins. $2850 total. 75% for rentals is $2138. Repair or cap expense? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/live-in-building-w-3-rental-units-removed-old-asbestos-insulation-from-boiler-pipes-didnt-replace/01/673524#M29586 Thu, 06 Jun 2019 10:35:49 GMT jivefive99 2019-06-06T10:35:49Z Live in building w 3 rental units. Removed OLD asbestos insulation from boiler pipes. Didnt replace ins. $2850 total. 75% for rentals is $2138. Repair or cap expense? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/live-in-building-w-3-rental-units-removed-old-asbestos-insulation-from-boiler-pipes-didnt-replace/01/673524#M29586 Thu, 06 Jun 2019 10:35:49 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/live-in-building-w-3-rental-units-removed-old-asbestos-insulation-from-boiler-pipes-didnt-replace/01/673524#M29586 jivefive99 2019-06-06T10:35:49Z The Service issued Letter Ruling (TAM) 9240004, which hel... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/the-service-issued-letter-ruling-tam-9240004-which-hel/01/673530#M29587 <P>The Service issued Letter Ruling (TAM) 9240004, which held that asbestos removal costs are not deductible as ordinary repairs and maintenance, but instead must be treated as capital expenditures.<BR /></P> Thu, 06 Jun 2019 10:35:51 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/the-service-issued-letter-ruling-tam-9240004-which-hel/01/673530#M29587 view2 2019-06-06T10:35:51Z