Author Topic: cost-basis, repairs, capitalized improvements - taxes  (Read 243 times)

YoungStache

  • 5 O'Clock Shadow
  • *
  • Posts: 95
  • Location: California
cost-basis, repairs, capitalized improvements - taxes
« on: December 23, 2018, 11:53:10 PM »
I'm wondering if there's a quick guide somewhere to see what things are part of the cost-basis vs repairs vs home improvements that need to be capitalized and depreciated.

Does anyone have a template or a spreadsheet to track these things + depreciation?

I purchased a rental duplex in PA, and am having some contracting work done to make the units rent ready + improvements such as installing a house meter for electricity. The property management company just lists the entire cost of the rent-ready work as repairs, but some are repairs and some are home improvements.

How would you go about it?