Replacing a 15 Year Old Driveway

[Daycarefamily]

Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance? Its my understanding that a repair/maintenance can be deducted in one year while improvements need to be depreciated.

[TomCopeland]

Originally Posted by Daycarefamily

Hi. Our existing driveway is too beat up to repair so we are planning to replace it this summer. Will this be considered a home improvement or maintenance? Its my understanding that a repair/maintenance can be deducted in one year while improvements need to be depreciated.

A driveway is a land improvement, not a home improvement. Therefore, you can deduct the business portion (time-space%) in one year on Form 4562, line 14.

[Daycarefamily]

Thank you!!