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  1. T

    Learning from mistakes

    A new bathroom and kitchen would not be a repair - even if tenants were in place. A repair would be fixing a broken oven - a new oven would be an improvement.b
  2. T

    Learning from mistakes

    Thanks for the reply. I am still not quite getting it and I think I'm missing out on something important. Repairs I can understand - but for a $40K reno I would have thought that mosting things are being replaced. In that case they would be a capital expense and depreciated whether done...
  3. T

    Learning from mistakes

    Can you (or someone) explain the main lesson here ? What type of things was the $40K spent on ?
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