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It sounds like in the past, property that cost < $2500 that became permanently fixed to a rental property (e.g Windows, carpet, vent fans etc) were considered improvements and would not qualify under the de minimis safe harbor. Is an expenditure for a solar powered exhaust fan eligible for the § 25d credit Only the component part of a property that actually generates electricity for the dwelling unit is eligible for the § 25d credit.
I spent a bunch of money putting new tile, painting, and making general repairs after i listed my house for sale Can i deduct these costs if i kept receipts? The cost basis you have to use is the basis that you used when you set up the property for depreciation as a rental property, plus additions and improvements that you capitalized, less the accumulated depreciation on the house and improvements You can add the cost of the roof added in the year of sale
You do not add the cost of the hvac system to the basis of the house
When a tenant moved out of one of our rentals, we spent some money on painting the interior, replacing the ceiling fans and the blinds and installed new flooring and appliances I know that the flooring and appliances get depreciated, but do things like the new ceiling fans and blinds also have to b. I spent about $5400 on adding blinds, ceiling fans, stage furniture, etc Before listing through a realtor
The only big upgrades done to the condo since it was built in 1985 was adding central ac (about $10k). I recently moved to ri but my wife still lives in ma I’m trying to figure out federal and state tax filing going forward We had been filing jointly in ma before my move
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How should we file fed.
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