Improvement Deductions I own a two family home. I live in the lower unit and rent the upper unit. I work and get a W2.
In 2016 I remodeled the bathroom/kitchen in the upper unit to the tune of ~$40K.
My question is can I deduct this expense without capitalizing it? Can I deduct it 100%? If the deduction takes to paying zero taxes is there carryover to 2017?
Thanks.
Len |