Pamela owns the building where her plumbing supply business is located. This year she put on vinyl siding to replace the weathered wood siding on her building. The cost of the new siding can be expensed in the current year.

Question

Quizplus · Accepted Answer

The cost of improvements to a building, such as replacing siding, must be capitalized and depreciated over a period of years. It cannot be expensed in the current year.

Pamela Owns the Building Where Her Plumbing Supply Business Is