PatriciaV
Expert Alumni

Investors & landlords

It might be prudent to obtain a verified appraisal from a licensed real estate agent that provides values both before and after renovation of the rental property. While this won't document your cost, it will be evidence that your efforts increased the value of the property. A real estate agent can also advise you on the best methods for estimating your costs, since these renovations were done many years ago.

 

Be aware that the lack of written documentation is the main reason certain deductions are denied by the IRS. You might contact your bank and request statements for the period when you were paying for the remodeling. Likewise for credit card statements. Any documentation is better than none, even if you have to pay for the historical records.

 

@dandanyaodan 

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