We had some ceiling leaking issues. They had to remove the ceiling and replace some pipes and then the insulation, drywall, etc. Which area do I put it under? Also, I had to write 3 different checks because they were all different contractors doing different stages. Write it all as one or make 3 entries?
TomCopeland 07:11 AM 08-08-2014
Originally Posted by mema:
We had some ceiling leaking issues. They had to remove the ceiling and replace some pipes and then the insulation, drywall, etc. Which area do I put it under? Also, I had to write 3 different checks because they were all different contractors doing different stages. Write it all as one or make 3 entries?
These are all repairs and can be deducted in one year. Multiply by your time-space %. Make three entries.
midaycare 12:04 PM 08-08-2014
Originally Posted by TomCopeland:
These are all repairs and can be deducted in one year. Multiply by your time-space %. Make three entries.
So repairs can all be deducted in one year, even if they are over $100?
TomCopeland 02:04 PM 08-09-2014
Originally Posted by midaycare:
So repairs can all be deducted in one year, even if they are over $100?
Yes, repairs are deducted in one year, regardless of the cost.