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Get your taxes done using TurboTax
Yes, you can add the additional money expended on the roof to the basis of the home even though you sold it soon afterwards. There used to be a caption entitled "fixing up expenses" to prepare for a sale that allowed you to deduct that amount from the sales proceeds but adding to the basis would be the better way to handle it.
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‎April 18, 2023
10:00 AM