Client purchased rental real estate on 6/03/20. Made Repairs of $16,000 and Improvements of $19,000 after that. Rented out to tenant starting 11/01/20.
Can the repairs be deducted or amortized as startup ($5,000 + 180 months) or neither? Can the improvements be depreciated over 27.5 months?
Can the repairs be deducted or amortized as startup ($5,000 + 180 months) or neither? Can the improvements be depreciated over 27.5 months?
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