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Investors & landlords
Exterior painting of a home definitely adds value to the home and can definitey be added to the cost basis. Like pimafitz explained earlier, depending on your adjusted gross income and filing status, your long term capital gains tax may be more or less benficial to you than taking it as a rental deduction.
See HERE for the long term capital gains rates (which are applicable to you).
Enjoy the rest of your day.
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‎April 17, 2023
9:27 AM