Updated almost 5 years ago on . Most recent reply
Foundation repair - expense or depreciate?
Bought my first rental. Has some foundation repair needed. Looking at $10-$15k if I hire it out. Can I deduct this as a repair expense or will I have to depreciate it? Looking to keep as a rental. Also, I'm planning to BRRR this property. Will I be able to depreciate the assessed value of the house (minus land) after I refinance?