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Capitalizing Repair and Maintenance

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    #1

    Capitalizing Repair and Maintenance

    I have a client who gains no advantage from current year repair and maitenance expenses on a rental property. I am capitalizing them per the new IRS rule allowing this. My question is, he has three servces contracts each $200-$400 for appliances etc. My thought is these would not be capitalized, as they are not a tangible change to the property. Once the year is up they have absolutely no value. What says everyone else?
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    #2
    Were these contracts purchased along with new appliances? If not, and they are only for one year, then I would definitely expense them.

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