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elawson53
Level 1
December 7, 2019
Solved

What is the best way to depreciate Repairs/Improvements for Rental Condominium that is greater than 2% of the Unadjusted Basis?

  • December 7, 2019
  • 2 replies
  • 14 views
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Best answer by IRonMaN

There isn't any "best way".  If it is an improvement, you depreciate.  If it is a repair, you expense.

2 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

There isn't any "best way".  If it is an improvement, you depreciate.  If it is a repair, you expense.

Slava Ukraini!
abctax55
abctax55
Level 15
December 7, 2019

Repairs & Improvements are NOT interchangeable terms.

A repair is not restricted to "less than 2% of unadjusted basis".

An Improvement will depreciated using MACRS (assuming the property is on US soil), using the appropriate convention.

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