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Landscaping & Painting A Capitol Expense

Started by KsT • 7 replies • 296 views

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KsT (Colorado)
Posts: 1
Posted:
I recently found an IRS or IRC code stating that landscaping and painting is not a capital expense per IRS.

I can't find that information again and wonder if someone could help.

Thanks
MaxB4
Posts: 3,513
Posted:
Quote:
Posted By KsT on 11/03/2021 6:51 PM
I recently found an IRS or IRC code stating that landscaping and painting is not a capital expense per IRS.

I can't find that information again and wonder if someone could help.

Thanks

Not a capital expense for what purpose?
MelissaP1 (Alabama)
Posts: 13,836
Posted:
I do not see landscaping as a capital expense. Painting can fall into either one depending on the situation. Like painting an entire complex versus painting to cover damage etc. Painting would depend on the size of the project. Landscaping our HOA was responsible for ONLY. So that would be an ongoing expense that we did not save up for.
Former HOA President
MelissaP1 (Alabama)
Posts: 13,836
Posted:
I do not see landscaping as a capital expense. Painting can fall into either one depending on the situation. Like painting an entire complex versus painting to cover damage etc. Painting would depend on the size of the project. Landscaping our HOA was responsible for ONLY. So that would be an ongoing expense that we did not save up for.
Former HOA President
HenryS6 (Arizona)
Posts: 111
Posted:
I think the OP is getting two things mixed up.

The IRS has guidelines on what constitutes things that increase the basis (an improvement to property) versus things that don't increase the basis. Painting definitely does not increase the basis. Landscaping might.

Reserve studies call for funding in advance for everything that is expected to wear out in a predicted fashion. Both landscaping and painting can be funded through reserves.
LetA (Nevada)
Posts: 2,679
Posted:
Why is the IRS taxing money that's already been taxed? Taxation is theft.
MaxB4
Posts: 3,513
Posted:
Quote:
Posted By LetA on 11/04/2021 7:40 AM
Why is the IRS taxing money that's already been taxed? Taxation is theft.

Hello, wake and smell the coffee, the government does it ALL the time.

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