I sold my house in 2021. Just prior to putting the house on the market, we painted the inside of the house to increase the house's value/marketability. Can these painting costs be added to cost basis of the house to help reduce capital gains exposure?
I've seen answers all over the place--(1) painting is a repair (not an improvement), and thus can never be counted as part of cost basis (unless part of a restoration/remodeling project); (2) painting just prior to sale can count if within 90 days of the sale's closing (as can other house repairs within 90 days of sale's closing); or (3) painting just prior to selling is a selling expense and is thus directly associated with selling your home.
Anyone know the answer to this? Thank you.
