I sold a rental condominium in December 2024 and need advice on what expenses can be deducted.
1) Due to strict tenant laws in the city it was located in, I used a "cash for keys" agreement to relocate the tenant prior to sale. Can this amount be considered a sales expense and deducted?
2) To get the property ready for sale I had new paint, flooring, lighting, and appliances. Are any of these considered sales expenses?
