Deductions & credits


@Carl wrote:

 

But of course, the point is, maintenance or repair expenses do not add to the cost basis and are not a sales expense on the sale of a personal use 2nd home.

 


I was assuming this was not a rental since that was not indicated.  

 

Painting can also be part of an improvement--if you remodel the kitchen, that necessarily includes painting which is included in the cost of the remodel and does not have to be separated out.  But the taxpayer didn't indicate any extensive remodeling either, so I didn't mention it.

 

If a rental, then many expenses can be deducted against the rental income that are not deductible for a personal dwelling.