topic 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? in Investors and rental owners https://turbotax.community.intuit.ca/community/investments-rentals/discussion/my-last-tenants-destroyed-my-unit-floors-and-walls-with-stains-and-cigarette-burns-approx-6000-for/01/942683#M6308 Thu, 31 Oct 2019 09:50:17 GMT jman3310 2019-10-31T09:50:17Z 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? https://turbotax.community.intuit.ca/community/investments-rentals/discussion/my-last-tenants-destroyed-my-unit-floors-and-walls-with-stains-and-cigarette-burns-approx-6000-for/01/942683#M6308 Thu, 31 Oct 2019 09:50:17 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/my-last-tenants-destroyed-my-unit-floors-and-walls-with-stains-and-cigarette-burns-approx-6000-for/01/942683#M6308 jman3310 2019-10-31T09:50:17Z Yes, you can claim this as a Maintenance & Repair "expens... https://turbotax.community.intuit.ca/community/investments-rentals/discussion/yes-you-can-claim-this-as-a-maintenance-repair-expens/01/942684#M6309 <P>Yes, you can claim this as a Maintenance &amp; 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 &amp; Repairs.<BR /></P><P>For example:&nbsp;</P><UL> <LI>You replaced linoleum flooring with the same type of vinyl flooring, this is a "current expense".</LI> <LI>If you replaced that flooring with hardwood floors, you have <I>improved</I> it and therefore must claim as a "capital expense".</LI> </UL> Thu, 31 Oct 2019 09:50:18 GMT https://turbotax.community.intuit.ca/community/investments-rentals/discussion/yes-you-can-claim-this-as-a-maintenance-repair-expens/01/942684#M6309 TurboTaxKim 2019-10-31T09:50:18Z
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topic 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? in Investors and rental owners
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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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<P>Yes, you can claim this as a Maintenance &amp; 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 &amp; Repairs.<BR /></P><P>For example:&nbsp;</P><UL> <LI>You replaced linoleum flooring with the same type of vinyl flooring, this is a "current expense".</LI> <LI>If you replaced that flooring with hardwood floors, you have <I>improved</I> it and therefore must claim as a "capital expense".</LI> </UL>
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