Client owns 2 family owner occupied residential rental. After her tenants moved out, she repainted the entire rental unit at a cost of $1465.00. She also repair front yard fence costing $1750.00
Should I depreciate cost of painting? I'm thinking yes because its a "restoration project", and if so, how many years to depreciate for?
For the fence, can I depreciate it even though its not directly connected to the rental unit? If i can depreciate, once again for how may years?
Thank you all in advance for the replies!!!
Should I depreciate cost of painting? I'm thinking yes because its a "restoration project", and if so, how many years to depreciate for?
For the fence, can I depreciate it even though its not directly connected to the rental unit? If i can depreciate, once again for how may years?
Thank you all in advance for the replies!!!
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