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How to handle repairs for rental Condo (De Minimis?): Replaced wet kitchen flooring $1,100. Replace Cabinets & contertops with new ones $1,800. Wtr Htr Repl $1,225.

Jul21720
Level 3
Wet kitchen flooring and cabinets for Condo unit #1 Condo unit #2: Water Heater Replace. $1,225.00, Maintenance painting needed $1,350.00. Please help. Thanks
1 Comment 1
TaxGuyBill
Level 15

Are you asking how to make the De Mimimis election in Lacerte?

If you make that election, and if your client qualifies for the full $2500 per item, then just enter all of those items as repairs or maintenance.

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