johnspurrier[at]gmail.com wrote:

- quote -

It all depends. Really. Depends on when you started
renting the place. I would guess from the way you say it
above however, that all those expenditures were before
renting, and therefore not repairs, but are to be added to
the basis (cost) of the property.

Right?

ChEAr$,
Harlan Lunsford, EA n LA
Sun 27 mar 2005

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

johnspurrier[at]gmail.com wrote:

- quote -

It sounds to me like both projects are capital expenditure.
When you bought the building, you knew you would need to
paint and replace the windows. Thus, at least in theory,
you paid less for the property than you would had it not
been necessary to do these projects. The fact is, these
expenditures were just part of the cost of acquiring the
property and placing it service.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

Last year I purchased a 3 unit apartment building. Among the
expenses that I incurred in 2004 were $3000 for painting and
approximately $8000 for new windows. I'm assuming that
painting would be considered maintenace and could be shown
as an expense for 2004. Because of the poor condition of the
original windows, I was wondering if the new windows would
be be considered a repair? How would you suggest handling
the windows on my 2004 tax return?

Thanks.

John

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->