Title: Capital Improvements vs. Repairs and Maintenance Expenses [2020 Update] - Stessa
Headings: Capital Improvements vs. Repairs and Maintenance Expenses [2020 Update]
Capital Improvements vs. Repairs and Maintenance Expenses [2020 Update]
Repairs and Maintenance
Capital Improvements

Content: Of course, you might want to let your CPA handle this for you. Repairs and Maintenance
Repairs and maintenance are generally one-time expenses incurred to keep your property habitable and in proper working condition. Examples of common repair and maintenance expenses include but are not limited to: painting
fixing: an existing AC unit
a faucet or toilet
replacing: a few shingles on a roof
a cabinet door
a few planks or tiles on a floor
a broken pipe
costs incurred for: inspection, or cleaning part of the building structure and/or building system
replacing broken or worn out parts with comparable parts
Capital Improvements
A capital improvement is an addition or change that increases a property’s value, increases its useful life, or adapts it (or a component of the property) to new uses. These items fall under categories sometimes called betterments, restorations, and adaptations. Examples that constitute capital improvements include: additions, such as a deck, pool, additional room, etc.