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Investors & landlords
Thanks @DawnC I went to that section and it indicates only for those real estate taxes for 2023 and not previous years.
My question is more specific to an investment property and seeing if the previous annual real estate taxes over the years can count toward the sale of the second property?
ie: the secondary property sold for $50,000 but over the several years(say 5) we had paid $1,000 a year in property taxes, so $50,000 - ($1000x 5 years) = $45,000 adjusted cost basis for the property (not including any realtor fees or settlement costs)
Is this feasible?
Thanks again
March 31, 2024
1:37 AM