Deductions & credits


@Carl wrote:

So the costs may be deductible as a sales expense, depending on the timing. But typically, simple things like painting, replacing the glass in a broken window, etc, are either maintenance or repair expenses and are not deductible as such, nor do they add to the cost basis of the property.

 


Allowable sales expenses must not make changes to the home.  For example, advertising.  "Staging" is an allowable expense provided that when the stager takes away their goodies, the home is left as it was.  If the stager says you need to paint, that's a repair that is not allowable as a cost basis adjustment.