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Can you add to the appraised value of an inherited house any costs to carry the property (except taxes) or improve/repair/clean up the property prior to sale?
I inherited a house 3/31/17 and sold it 8/31/17. It was treated as an investment property and not used for any personal use. My costs during that time included misc. repair costs, monthly HOA fees, garbage pickup, gardener fees, water, gas and electric, pest control, homeowner's insurance, appraisal fee on 3/31/17, and recorder fees to transfer title to me. I have received a 1099-S for the sale on 8/31/17. Can any of my costs be added to the basis?
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‎June 4, 2019
11:35 PM