Capitalize?

[J&P11]

What is the name of your state? NC One of our rentals needed a flooring (including sub floor) repair due to a pipe leak We purchased LVP flooring from Home Depot separately from paying a licensed contractor to install it. The actual repair area was small but we decided to replace the entire kitchen/ dining and living room also, which would make it an improvement instead of just a repair. My question is do I list the actual LVP cost (purchased separately) as a supply on the Schedule E and capitalize the installation cost OR combine the total and capitalize it all?

 

[LdiJ]

What is the name of your state? NC One of our rentals needed a flooring (including sub floor) repair due to a pipe leak We purchased LVP flooring from Home Depot separately from paying a licensed contractor to install it. The actual repair area was small but we decided to replace the entire kitchen/ dining and living room also, which would make it an improvement instead of just a repair. My question is do I list the actual LVP cost (purchased separately) as a supply on the Schedule E and capitalize the installation cost OR combine the total and capitalize it all?

If you are going to capitalize it, you need to combine and capitalize it all.

 

[J&P11]

If you are going to capitalize it, you need to combine and capitalize it all.

Thank You