Hi,
I sold my rental property in august 2023. Tenants moved out on 6.15.23. A new roof for $9K went on house on 4.20.23. Current owed taxes per TT for sale of home is about $110K. When I add the $9k roof into the depreciable assets list, the tax amount doesn't change at all. I would expect a decrease of around $2k in taxes. Shouldn't my cost basis be changing. I assumed TT would make this calculation automatically.
I am clearly missing something here.
