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Old 02-02-2016, 08:13 AM
 
304 posts, read 237,930 times
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Are repairs to a rental property tax deductible?


If so, on what IRS form?
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Old 02-02-2016, 08:16 AM
 
3,461 posts, read 4,702,236 times
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Repairs that the owner makes or the tenant?
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Old 02-02-2016, 03:45 PM
 
Location: North Idaho
32,638 posts, read 48,015,234 times
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Repairs by the tenant are not tax deductible and if you are the property owner, repairs are deducted on the same form where you declare your rental income. You are declaring your income, right?

Smallish repairs are deductible but large expensive repairs have to be depreciated.

(Schedule E, probably)
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Old 02-02-2016, 03:49 PM
 
Location: North Idaho
32,638 posts, read 48,015,234 times
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Adding, repairs go towards the basis if they are done before the property is put into service, so not deductible.

Best not to take tax advice off the internet. Perhaps you should talk to an accountant?
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Old 02-02-2016, 04:43 PM
 
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The IRS has a "helpful" document for landlords -- https://www.irs.gov/publications/p527/ch01.html

Technically an improvement is not the same as a repair -- Improvements vs. Repairs for Rental Property Owners

Landlords that get audited really can face some unexpected hassles -- Who Are the Latest IRS Targets? A List of 22 Audit Triggers - WSRPWSRP
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