repairs
Also found in: Dictionary, Medical, Legal, Encyclopedia, Wikipedia.(redirected from Maintenance, repair and operations)
repairs
Work to return a property to its former condition without extending its life.Repairs are fully deductible on the current year's tax returns.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
Repairs
Repairs are expenditures to keep business-use property in good operating condition that do not significantly add to the value of the property or extend its useful life. Also se "Capital Improvement."
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
Copyright © 2003-2025 Farlex, Inc
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.