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Level 2
October 2, 2022
Question

Rental Property

  • October 2, 2022
  • 3 replies
  • 10 views

If I replace or reimburse a neighbor who has replace the full section of fence that borders our properties, can I expense that cost or must I depreciate it.   The section of fence is being replaced because it needs serious repair. Thanks

    3 replies

    Critter-3
    Level 15
    October 2, 2022

    Since it is not an asset you own you cannot depreciate it so you can expense it.

    Level 2
    October 2, 2022

    Thanks. So, is it an all or nothing thing? I have to own all the fence to depreciate my 50 percent portion of the repair/replace?

    Critter-3
    Level 15
    October 2, 2022

    Ok ... you depreciate what you own.  Or expense what you don't.