Skip to main content
Level 2
May 4, 2022
Question

Replacing concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

  • May 4, 2022
  • 1 reply
  • 9 views

Replacing damaged concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

This topic has been closed for replies.

1 reply

Level 7
May 4, 2022

If it is a replacement of damaged concrete steps with new concrete steps (ie. is not a "betterment") then it would be a current expense.  If it is capital, it would not be Class 8.  I would consider it part of the building.

Level 2
May 5, 2022

Thanks for answering my question.