IRS Rules for improvement to rental property
I am adding a fence to a rental property which is on a pond. It is presently rented to an adult couple, but we want to open it up to families with children. 1) Somewhere I read that for Rental property "improvements" that are under $2500 they can be expensed or written off in the year of payment. I can not find such a rule in the IRS publication.
Also, @Amanda Han, in her informative post on the new tax law seemed to indicate that such purchases after September 27, 2017, could be now fully written off. I assume in the 2017 tax return for such end year expenses.
Can anyone add to or direct me to info on either of these?
Thanks.
Cheers,
Buddy