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April 4, 2022
Question

Trreating asset improvement as expense (de minimis safe harbor)

  • April 4, 2022
  • 1 reply
  • 0 views

If I elect to have modifications of less than $2,500 treated as MISC expense in TT, is the entire expense deducted in the year it is claimed...or does it follow the same pro-rate rule as other expenses which are based on days rented Vs days occupied by me (as owner)?   Many thanks

    1 reply

    LeonardS
    April 4, 2022

    Yes, it would follow the same pro-rate rule as other expenses based on days rented Vs days occupied by you.

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    sc101Author
    April 4, 2022

    Thank you, that was fast!