DaveF1006
Expert Alumni

Deductions & credits

Yes, this can be deducted as a selling expense and deducted from your sales proceeds. You may add flooring, lighting, and appliances to the basis of your house. Don't add these as expenses, but you may add them to the basis of the house.

 

Adding the flooring and improvements to your basis and deducting cash for keys will lessen the capital gains on the sale of the condo.

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