I plan on moving into the property when the tenants move out. Can I write off the cost of the carpet, paint, etc. if the repairs are for me?
The rental property should be maintained to the original condition. Any repair costs to return the property to original condition would be deductible expenses for the rental. Any costs to improve the property beyond the original condition would not be deductible.
Annette Hall, CPA
515 Keisler Drive
Cary, NC 27518
919-468-0505
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