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uma-shah41
Level 1

Replacing concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

Replacing damaged concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

2 Comments 2
janisbossenberry
Level 6

Replacing concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

If it is a replacement of damaged concrete steps with new concrete steps (ie. is not a "betterment") then it would be a current expense.  If it is capital, it would not be Class 8.  I would consider it part of the building.

uma-shah41
Level 1

Replacing concrete steps for rental property, is it capital or current expense or does it belong to class 8 for depreciation?

Thanks for answering my question.