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Schedule C Expenses - Repairs and Maintenance

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Question
Schedule C Expenses - Repairs and Maintenance

Answer

Deduct the cost of incidental repairs and maintenance that do not add to the property's value or appreciably prolong its life.  Do not deduct the value of your own labor.  Do not deduct amounts spent to restore or replace property; they must be capitalized.


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Views: 2424 Created on: Jun 15, 2013
Date updated: Dec 02, 2021

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