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My last tenants destroyed my unit. floors and walls with stains and cigarette burns. approx. 6000 for new floor. can I claim this as maintenance and repairs?
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October 31, 2019
2:50 AM
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Investors and rental owners
Yes, you can claim this as a Maintenance & Repair "expense". An expense that simply restores a property to its original condition is usually a current expense. So as long as you didn't "improve" the property beyond its original condition, you can claim the cost as Maintenance & Repairs.
For example:
- You replaced linoleum flooring with the same type of vinyl flooring, this is a "current expense".
- If you replaced that flooring with hardwood floors, you have improved it and therefore must claim as a "capital expense".
October 31, 2019
2:50 AM