* Scrape or sand away any loose plaster or peeling paint to establish a solid base for the new plaster.
* Fill the hole with lightweight joint compound. Apply with the smallest knife that will span the damaged area. Let the compound dry, following the manufacturer's instructions.
* Sand the patch lightly with 150-grit production sandpaper. Wipe the dust away with a clean cloth, then prime and paint the area, feathering the paint to blend the edges.
