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Old 02-02-2017, 06:35 PM
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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



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