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Deductions & credits
It certainly would make sense to add the improvements as an asset IF you were keeping it as a rental property. My understanding of your situation is that: it was a rental property; tenant moved out; improvements were made; you sold the property. Is that correct? It stopped being a rental property when the tenant moved out, so there is no purpose in adding the improvements as an asset.
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‎June 6, 2019
12:04 AM