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s842
New Member

I spent bit over 10 thou on rental improve Need income deduction just this yr. Is there big difference between elect vs amortize? should I write off $ over 10 k?

I need to reduce income just this year and don't know the best way to include the money I spent fixing up a rental. 

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AmyT
New Member

I spent bit over 10 thou on rental improve Need income deduction just this yr. Is there big difference between elect vs amortize? should I write off $ over 10 k?

If you are able to break the improvements down (in a logical manner) to being $2,500 or less each, you are able to treat them as repairs expense instead of being required to capitalize (treat as an asset) them and depreciate them.

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AmyT
New Member

I spent bit over 10 thou on rental improve Need income deduction just this yr. Is there big difference between elect vs amortize? should I write off $ over 10 k?

If you are able to break the improvements down (in a logical manner) to being $2,500 or less each, you are able to treat them as repairs expense instead of being required to capitalize (treat as an asset) them and depreciate them.

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