I have a rental property in Louisiana that I purchased a termite contract for this year for $700.00. Seem like I should be able to claim it as an expense against the income that I recieved on the property. Does anyone know if I can claim it, and what that would fall under? All I see in Turbo Tax is pesticides listed as a supply, but it seems to be more of a service than a supply.
2007-03-22 16:47:36 · 2 answers · asked by p_doell 5 in Business & Finance ➔ Taxes ➔ United States
It is 100% deductible. I think I would classify it as an "other expense;" Ttax is meant for the country as a whole and termites aren't much of an issue for most of the country.
Almost anything is deductible for rental income. Anything reasonable and necessary for the operation of a trade or business is deductible as such, that includes rental property. The greyish areas are the home office which is necessary for managing the rental(s) - just how much was actually devoted to the business? Repairs and Maintenance (or was it actually an improvement?) Business or personal (just how much of that trip to Hawaii was to manage that condo?)
2007-03-22 17:29:48 · answer #1 · answered by Scott K 7 · 0⤊ 0⤋
Pest control services are fully deductible.
Deduct the pest control services on Schedule E. You can put it as a separate item, since there is no line for this on the expense lines.
2007-03-22 16:52:35 · answer #2 · answered by ninasgramma 7 · 2⤊ 0⤋