My client indicated that she spent $45,000 on repairs on a rental property but I suspect some of it was improvement, how should it be handled
Look up the rules on improvements versus repairs, extending useful life of an asset versus not extending versus new asset.
You need to ask the client what was done.
Duh.
Where do we enter home-improvement or repairs when the property has not been placed in service for renting. Repairs were done in 2021 but the house has not yet been rented.
F 4562
