How much I deduct on renovation property ?

[Boris Seroshtan]

Hey guys, I hope everyone is doing great, Just wondering how much can I deduct per year on rental property renovation?

[Randall Alan]

Quote from @Boris Seroshtan:

Hey guys, I hope everyone is doing great, Just wondering how much can I deduct per year on rental property renovation?

@Boris Seroshtan

Major renovations are usually deducted over 27.5 years. There are safe harbor exceptions though that allow you to deduct up to $10,000 a year in some instances.   I’m not an accountant, but know those few basics.  

 Here are the details:

https://www.irs.gov/publicatio...

Look for the section about 3/4 down called Repairs and Improvements

all the best! …Randy