Final answer:
Incidental repairs and maintenance of property are not capital expenditures and can be deducted as ordinary and necessary business expenses, unlike capital expenditures that must be depreciated over time.
Step-by-step explanation:
Incidental repairs and maintenance of the property are indeed not considered capital expenditures. These costs can typically be deducted as ordinary and necessary business expenses. This is because they are related to keeping a property in good condition and are not improvements or enhancements that significantly increase the property's value or extend its life. Instead, they are seen as ongoing expenses that are essential to the operation of a business. Capital expenditures, on the other hand, are major investments in the property that add to its value or prolong its life and usually must be depreciated over time.
True. Incidental repairs and maintenance of the property are considered ordinary and necessary business expenses and can be deducted as such.