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How To Use Repairs and Capitalized Expenses in QuickBooks Pro

Posted on August 12, 2011June 12, 2024 By wizard

QUESTION:

Hello Mike,

I understand your reply of repair versus capital expense so my question must not have been clear…

When I buy a house to resell that will need some repairs, these repairs are a capital expense as the property is not in “service”.

To properly see my cashflow in Investor Books PRO when I do a report, I put these fixup costs as an expense (initially).   I do this under “repairs and maintenance”

The fixups will eventually be transfered and recharacterized as a capital expense at a later date thus in the meantime allowing my cashflow report to provide useful information for me as an investor.

My question is when do I transfer this to the asset?

Thank you Mike,

Hope that is more clearer-er

Steve

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HOW TO VIDEOS, INVESTOR BOOKS, Capitalized, Repairs, Year End Tags:Capitalized Expenses, Cash Expenses, Fix Up, INVESTOR BOOKS, Paying Bills, Paying Contractors, Paying Vendors, repairs, Reports, Tax Time

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