When claiming expenses at the end of the year on your rental properties you need to know whether or not it is a direct deduction or one that has to be limited to a certain percentage every year.

Current expenses can be thought of as a repair on your property. 

Examples:

*Repaired a roof by patching it

*Repaired some steps by replacing some boards

*Repainted the walls

*Changed light bulbs

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Keep track of all these repairs over the course of the year and keep your receipts. You will be able to deduct these expenses 100% on your annual rental income.

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