topic Does deducting rental property upgrades as expenses this year (items <$2,500) affect upgrades from prior years which are being depreciated yearly? in Investors & landlords

Does deducting rental property upgrades as expenses this year (items <$2,500) affect upgrades from prior years which are being depreciated yearly?

steinhh — Sat, 01 Jun 2019 18:16:48 GMT

No. Each tax year is separate.

Coleen3 — Sat, 01 Jun 2019 18:16:50 GMT

No. Each tax year is separate.

Thanks for response but sorry, this does not answer my qu...

steinhh — Sat, 01 Jun 2019 18:16:53 GMT

Thanks for response but sorry, this does not answer my question. Will my upgrades from past tax years with ongoing depreciation be affected this year if I select this option for my current upgrades (in 2018)?

No. The elections done in prior years are not affected by...

Coleen3 — Sat, 01 Jun 2019 18:16:54 GMT

No. The elections done in prior years are not affected by elections done on different assets in the current year.

Ok, Thank you. That's what I needed to know.

steinhh — Sat, 01 Jun 2019 18:16:55 GMT

Ok, Thank you. That's what I needed to know.

topic Does deducting rental property upgrades as expenses this year (items &lt;$2,500) affect upgrades from prior years which are being depreciated yearly? in Investors & landlords

Does deducting rental property upgrades as expenses this year (items <$2,500) affect upgrades from prior years which are being depreciated yearly?

No. Each tax year is separate.

Thanks for response but sorry, this does not answer my qu...

No. The elections done in prior years are not affected by...

Ok, Thank you. That's what I needed to know.

topic Does deducting rental property upgrades as expenses this year (items <$2,500) affect upgrades from prior years which are being depreciated yearly? in Investors & landlords