topic election expense in Investors & landlords

election expense

JessicaJones — Mon, 19 Aug 2019 14:07:58 GMT

Does "all repairs, maintenance and improvements" include the improvement that I want to expense using the election expense option for the 2018 tax year?

Re: election expense

soultax09 — Mon, 19 Aug 2019 17:03:09 GMT

what's the improvement? use the 2500 safe harbour or expense 50% the 1st year

Re: election expense

Carl — Tue, 20 Aug 2019 01:43:39 GMT

With some exceptions, property improvements that cost less than $2500 can be expensed. That did not change with the new tax laws. If you need to know if your property improvment is one of those exceptions, then you need to let us know what the improvement was.