3. Capital gain, capital improvements, and repairs relative to real estate investment property When a real estate Investment is sold, a capital gain is realized when the sale price is the cost of the seller's original purchase price The cost of repairs is almost tax deductible from the cash flow generated by the real estate Investment A capital improvement the value of the property and a repair the value of the property. Expenditures on the physical property itself fall into two categories: capital improvements and repairs. Complete the following table, and for each item, indicate if it describes a capital Improvement or a repair: Capital Improvement Repairs Snow shoveling Replacing cheap, laminate countertops with custom granite countertops Spring cleaning Installing an alarm system Replacing light bulbs OOOOO Adding an exercise room 3. Capital gain, capital improvements, and repairs relative to real estate investment property When a real estate Investment is sold, a capital gain is realized when the sale price is the cost of the seller's original purchase price The cost of repairs is almost tax deductible from the cash flow generated by the real estate Investment A capital improvement the value of the property and a repair the value of the property. Expenditures on the physical property itself fall into two categories: capital improvements and repairs. Complete the following table, and for each item, indicate if it describes a capital Improvement or a repair: Capital Improvement Repairs Snow shoveling Replacing cheap, laminate countertops with custom granite countertops Spring cleaning Installing an alarm system Replacing light bulbs OOOOO Adding an exercise room