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What criteria would anoyone use to determine Repair VS Capitalization for paint and stain on an existing building

Patricia Montour's Profile

painting building capital expenditureI have one property out of eleven that painted and stained their building this year. No structural repairs. It is not for sale, but an operating restaurant. Could this be capitalized?

Answers

Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

For income tax purposes, this would be a stretch.

Heck, even for GAAP I'd have to see it that way.

Let me ask: Why would you want to capitalize this in the first place?

Patricia Montour
Title: CPA, CGMA
Company: Private Company
(CPA, CGMA, Private Company) |

My thoughts exactly. Thank you for the feed back.

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