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Get your taxes done using TurboTax
I was given a part of my mother's real property in 2012. In 2018 and 2019 I had to invest in the property, by putting on a new roof, remodel the inside with new kitchen cabinets, new flooring, new plumbing fixtures, and a retaining wall, new carport and various other items. We have a contract pending for Feb. of 2020, My mother passed away in Apr. 2019, and I will be selling this property. I have serval questions; What is my basis? Can I adjust my basis by all of the improvements that have been made in the last few years? Does the dates of the improvements matter? And, how do I figure my basis? thank you for this service. Deb
‎January 25, 2020
8:36 AM