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Bob Baerker
Bob Baerker
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A certainAn investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and has only been rented out. It ishas never been used by the owner for his enjoyment.

The owner observes that oneOne of the outside walls is rotting a wayaway. A contractor contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall in the current year or does the cost of the wall have to be depreciated over several years.? If it is the secondlatter, can Section 179 bonus depreciation be taken?

A certain investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and rented out. It is never used by the owner for his enjoyment.

The owner observes that one of the outside walls is rotting a way. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall or does the cost of the wall have to be depreciated over several years. If it is the second, can Section 179 bonus depreciation be taken?

An investor who lives in the US has a single family home which has been fully depreciated. It is on the beach and has only been rented. It has never been used by the owner.

One of the outside walls is rotting away. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct the cost of the new wall in the current year or does the cost of the wall have to be depreciated over several years? If it is the latter, can Section 179 bonus depreciation be taken?

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JTP - Apologise to Monica ♦
JTP - Apologise to Monica ♦
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A certain investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and rented out. It is never used by the owner for his enjoyment.

The owner observes that one of the outside walls is rotting a way. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall or does the cost of the wall have to be depreciated over several years. If it is the second, can Section 179 bonus depreciation be taken?

Bob

A certain investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and rented out. It is never used by the owner for his enjoyment.

The owner observes that one of the outside walls is rotting a way. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall or does the cost of the wall have to be depreciated over several years. If it is the second, can Section 179 bonus depreciation be taken?

Bob

A certain investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and rented out. It is never used by the owner for his enjoyment.

The owner observes that one of the outside walls is rotting a way. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall or does the cost of the wall have to be depreciated over several years. If it is the second, can Section 179 bonus depreciation be taken?

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Bob
Bob
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The tax consequence of replacing a wall of a house

A certain investor, who lives in the US, has a single family home which has been fully depreciated. It is on the beach and rented out. It is never used by the owner for his enjoyment.

The owner observes that one of the outside walls is rotting a way. A contractor is brought in and the wall is replaced. For tax purposes, is the cost of the new wall considered a repair? That is, can you deduct, in the current year, the cost of the new wall or does the cost of the wall have to be depreciated over several years. If it is the second, can Section 179 bonus depreciation be taken?

Bob