Updated over 6 years ago on . Most recent reply
Expensing a renovation
I am replacing the kitchen cabinets and countertop in a rental property I own. Normally that would be depreciated over 27.5 years.
However, I read an article on bp (I can’t find it!) that suggested if the invoice was compartmentized into separate parts under 2500 each part could be expenced in the current year.
Did I understand that right and how would that work?
Thanks
Jeff