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Deductions & credits
Yes, you can include your one-time contributions for building exterior fixing, painting, lift upgrades, and similar improvements in the Cost of Improvement. These expenses are considered capital improvements because they improve the value of the property or extend its useful life.
No, monthly maintenance charges typically cannot be included in cost basis. These charges are considered regular upkeep expenses and aren't classified as capital improvements.
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March 31, 2025
9:33 AM