Maintenance & Repairs

[MarinaVanessa]

I just want to make sure that I'm putting everything where I'm supposed to. We pretty much do all of the maintenance & repairs to our home ourselves vs hiring someone else to do it. We keep all of our receipts ... do I still put the cost of the items to maintain and repair our home under "Home Repair & Maintenance"?

In MMK it lists things such as carpet cleaning, monthly fee for an alarm system, floor sanding, furnace cleaning etc. but I think it's referring to the fees you pay an outside company to come in and do for you. If we do it ourselves ... such as replace fence boards, stain our fence etc. the things we buy to get it done still go in this category right?

Also, I know that for furniture we are to depreciate it ... what if my husband buy all of the supplies and builds me the furniture? He built me a small desk for about $50 ... do I still have to depreciate it? 7 year straight line or 7 year 200% declining etc. Convention? Half year? Mid Quarter?

[sahm1225]

I'm wondering about this too since we try to do a lot of the work ourselves

[TomCopeland]

Repairs, etc.

I just want to make sure that I'm putting everything where I'm supposed to. We pretty much do all of the maintenance & repairs to our home ourselves vs hiring someone else to do it. We keep all of our receipts ... do I still put the cost of the items to maintain and repair our home under "Home Repair & Maintenance"?

In MMK it lists things such as carpet cleaning, monthly fee for an alarm system, floor sanding, furnace cleaning etc. but I think it's referring to the fees you pay an outside company to come in and do for you. If we do it ourselves ... such as replace fence boards, stain our fence etc. the things we buy to get it done still go in this category right?

Also, I know that for furniture we are to depreciate it ... what if my husband buy all of the supplies and builds me the furniture? He built me a small desk for about $50 ... do I still have to depreciate it? 7 year straight line or 7 year 200% declining etc. Convention? Half year? Mid Quarter?

Yes, if you are doing the repairs and are buying supplies for these repairs, put the expenses under Home Repair and Maintenance. You don't have to depreciate anything that costs less than $200. (This is a new rule that started in 2013. It used to by that you had to depreciate any item costing more than $100.).