Question for CPA RE REPAIRS

[Mauricio A.]

Are property repairs (say e.g. to foundation tax deductible?)

[Michael Plaks]

Originally posted by @Justin R.:

@Mauricio A.

I'm trying to figure out why people are saying this should be capitalized.

Generally, placing something back into working condition from an event causing damage would be listed as a repair/expense. Something capitalized would be a large capital expenditure extending the life of the home, or creating more value.

Why? Because of these highly complex IRS rules called "Tangible Property Regulations"

You're applying logic, and unfortunately the tax law is not built on logic.