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