This answer seems to be conflicting to what I have read online in different places. I have seen at least Centralized Air Conditioner, Water Heater are used for ...
Since AC and Furnace are part of HVAC Unit of property, doesn't this 2,500 limit now applies to HVAC unit of property ? In that case, even though AC and Furnace...
If I make another improvment of 10,000 after converting to rental, then my new unadjusted basis would become 517,000 + 10,000 = 527,000, correct?In other words ...
Safe Harbor for Small Tax Payers says "Annual expenses for repairs, maintenance, and improvements, cannot exceed the lesser of $10,000 or 2% of the building’s u...
