Garage Door - Repair or Improvement?
All,
I recently replaced a garage door in one of my rental units. Just trying to figure out if it's an expense or a depreciable asset. We replaced the door with the same quality and it was $750 (so not too expensive). As to whether the existing garage door had reached it's useful life, I think you could argue either way. It looked in good condition and all of a sudden cracked beyond repair.
Just looking for schools of thought on this. Thanks!