Rental Property tax question

[tomtom]

Hello all,
Question:  I have a significant amount of repair receipts from doing work on my 3 rental properties in 2016.  Obviously I will use them for tax purposes.  My question is how should I allocate them for maximum tax refund without screwing myself down the road?  Property#1 & property #2 I plan on selling in ten years.  Property #3 I plan on holding forever.  If direct most of the receipts toward properties #1 & #2 will I be screwing myself down the road and have to pay that tax money back??
Does it matter which property I claim as needing the most work and $?  So for example, does it matter if I were to say property #3 took $5000 to fix up and property & 1 & 2 only took $500 each? versus me saying all three properties too $2000 each to fix up??
Sorry I am trying to come up with a plan here to see what is most advantageous and won't hurt me down the road.  Can anyone help?  Thanks so much.

[CareCPA]

Simple, allocate the costs to the property to which they pertain.
There is no picking and choosing which property you put the expense against.
Also, make sure they are truly repairs, and none of it needs capitalized.

[tomtom]

@Frugalgrad  what does this mean "Also, make sure they are truly repairs, and none of it needs capitalized".
Thanks I am new to this.

[Drifterrider]

+2.  Don't cheat the tax man.  He has an unlimited budget and unlimited time.

Keep good records.

[Drifterrider]

@Frugalgrad  what does this mean "Also, make sure they are truly repairs, and none of it needs capitalized".
Thanks I am new to this.

He means know the difference between repair and capital improvement.  Broken window = repair.  Replace all windows = capital expenditure (has to be depreciated).

[CareCPA]

@Frugalgrad  what does this mean "Also, make sure they are truly repairs, and none of it needs capitalized".
Thanks I am new to this.

It means understand what should be capitalized and what should be expensed, and if you don't then do some research.
Some examples to lead you down the right road:
Fix some carpeting, probably expense. Replace all flooring, probably capitalize.
Replace a window, probably expense. Replace every window, probably capitalize.

[CareCPA]

@Frugalgrad  what does this mean "Also, make sure they are truly repairs, and none of it needs capitalized".
Thanks I am new to this.

He means know the difference between repair and capital improvement.  Broken window = repair.  Replace all windows = capital expenditure (has to be depreciated).

Ha, great minds...

[tomtom]

Thanks guys.  That helps!