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Investors & landlords
Thanks for your answer!
For the $10,000 you mentioned in your example, is there tax difference between reporting the improvement cost and not?
I am thinking if reporting it, then it will be taxed 25% for depreciation recapture (but I have more annual tax benefit), if not, I may have more long term capital gain when selling the house, but the corresponding tax should be lower.
Is my understanding correct or not?
‎October 10, 2023
5:44 PM