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: 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. renovating an entire room (for example, kitchen)
installing central air conditioning, a new plumbing system, etc. replacing 30% or more of a building component (for example, roof, windows, floors, electrical system, HVAC, etc.) Make sure you’re claiming every deduction you’re entitled to. Download the Full Guide Today. >>
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