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#2
02-25-2005, 02:27 AM
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 Re: mold cleanup on rental dwelling Rick Hess wrote: - quote - > "Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote
Well, since an expenditure is either a capital item or an> > gail34 wrote: > > > Where would you put $4500.00 worth of mold cleanup of rental > > > property this is for removing insulation under the house > > > spraying to kill mold using a air scrubber inside the house > > > etc. No new insulation, vents or anything.. The rent income > > > is only $1800.00 for the year. Looks like it would cause a > > > very big loss if it used all at once. But can you > > > depreciate something like this. > > Not atall would I "depreciate" something like that. This is > > a repair/maintenance item and quite ordinary and necessary > > these days, just to keep the property up to par and > > therefore rentable in the future. > > > expense. > Are you saying this CAN'T be depreciated? expense, yes, I think I am saying that. UNLESS of course, such expenditure is prior to first rental of the property. In this case it's capitalized along with all other renovations. ChEAr$, Harlan Lunsford thu 24 Feb 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
02-24-2005, 07:37 AM
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| Re: mold cleanup on rental dwelling "Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote - quote - > gail34 wrote:
Are you saying this CAN'T be depreciated?> > Where would you put $4500.00 worth of mold cleanup of rental > > property this is for removing insulation under the house > > spraying to kill mold using a air scrubber inside the house > > etc. No new insulation, vents or anything.. The rent income > > is only $1800.00 for the year. Looks like it would cause a > > very big loss if it used all at once. But can you > > depreciate something like this. > Not atall would I "depreciate" something like that. This is > a repair/maintenance item and quite ordinary and necessary > these days, just to keep the property up to par and > therefore rentable in the future. > expense. -- Rick Hess New Orleans To reply, eliminate All_Spammers << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-23-2005, 03:55 AM
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| Re: mold cleanup on rental dwelling gail34 wrote: - quote - > Where would you put $4500.00 worth of mold cleanup of rental
Not atall would I "depreciate" something like that. This is> property this is for removing insulation under the house > spraying to kill mold using a air scrubber inside the house > etc. No new insulation, vents or anything.. The rent income > is only $1800.00 for the year. Looks like it would cause a > very big loss if it used all at once. But can you > depreciate something like this. a repair/maintenance item and quite ordinary and necessary these days, just to keep the property up to par and therefore rentable in the future. expense. ChEAr$, Harlan Lunsford, EA n LA Mon 21 Feb 2005 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-21-2005, 08:23 AM
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| mold cleanup on rental dwelling Where would you put $4500.00 worth of mold cleanup of rental property this is for removing insulation under the house spraying to kill mold using a air scrubber inside the house etc. No new insulation, vents or anything.. The rent income is only $1800.00 for the year. Looks like it would cause a very big loss if it used all at once. But can you depreciate something like this. Appreciate your opinions. Thank, Sharon << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| cleanup, dwelling, mold, rental |
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