I am not clear what expenses are counted for on rental properties in these 3 scenarios:
1. Charges paid from security deposits after move out and thereby actually paid by tenant. Do I deduct what is counted as income from tenant from repair charges?
2. In case of insurance loss do I count the full amount of repairs? I think I have to.
3. This one actually pertains to the de minimus safe harbor. Appliance is purchased from Lowes, installed by employees of management company and charged accordingly. Are these deemed to be two separate invoice items? Work order shows both items on one work order but a work order is not an invoice item.
1. Charges paid from security deposits after move out and thereby actually paid by tenant. Do I deduct what is counted as income from tenant from repair charges?
2. In case of insurance loss do I count the full amount of repairs? I think I have to.
3. This one actually pertains to the de minimus safe harbor. Appliance is purchased from Lowes, installed by employees of management company and charged accordingly. Are these deemed to be two separate invoice items? Work order shows both items on one work order but a work order is not an invoice item.