Rental Property Popcorn Ceiling Removal
I didn't need to, but elected to replace my popcorn ceilings in my rental with new knock-down texture. Is this a repair, maintenance, or capital expense?
I didn't need to, but elected to replace my popcorn ceilings in my rental with new knock-down texture. Is this a repair, maintenance, or capital expense?
This is an improvement to your property that should be depreciated (27.5 years).
"You must capitalize any expense you pay to improve your rental property. An expense is for an improvement if it results in a betterment to your property, restores your property, or adapts your property to a new or different use. Table 1-1 shows examples of many improvements."
IRS Pub.527 - Residential Rental Property (pages 7-8)
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