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Posts: 7
Reply with quote  #1 
I had to do a major repair to a gravel driveway last year. It was getting washed out during heavy rain storms. I had to have the drains replaced, replace washed out gravel,  and put blacktop over the spot that would wash out in order to keep the problem from reoccurring. the rest of the driveway was not affected.   Is this an improvement or a repair?

Posts: 314
Reply with quote  #2 
repair   the drive was already there

Posts: 178
Reply with quote  #3 
I think the IRS says anything over $500 is an improvement, although repairs are repairs.  Is it closer to a roof repair, or a roof replacement?  The roof repair is a deduction, the replacement is an improvement and capitalized.

It if was under $500, definitely a repair.


Landlording for maximum profitability and Financial Independence


Posts: 314
Reply with quote  #4 
IRS   who cares, either a straight deduction or an inprovement, now house is worth more...either way u win...
question is,,,do u need a permit, if you do not need permit, it is a repair
sometimes even if you need one, it is still a repair
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