1. Appliances are 5 year depreciation properties. So each year you deduct 20% (sorry, if you have a lot of properties like me, you have to keep track the depreciation schedule for each piece of appliance.)
2. Fixing a leak: plumbing cost is repair, deducted fully.
3. Paint the house: can be repair or capital improvement. If you painted before your unit was occupied, it should be considered capital improvement. Otherwise it is repair.
You have a good example for RE tax reporting.
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Thanks. Please review again..
-pinglin111-
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02/06/2015 postreply
11:24:53
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here.
-borisg-
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02/06/2015 postreply
11:40:46
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Thank you very much
-pinglin111-
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02/06/2015 postreply
11:55:29