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Rental Property Driveway Repair
I have several rental properties in a HOA community. The asphalt driveways on several of the units are not good and have not been maintained over the years. I have hired a contractor to put down new asphalt and he has mentioned that tax laws state that I will be able to recoup 50-75% of the cost because it is a driveway. He did say this wouldn't apply to my personal home, but it would be considered a repair expense on a rental property. I agree with the repair part of that statement, but not sure about the deduction.
Does anyone have any insight on this particular expense and tax deduction?