Level 1
This widget could not be displayed.

Investors & landlords

I see many comments about adjusted basis when caluculating capital gains on a rental property. What I don't find ( not in Turbo Tax and not on the IRS website) can I only use improvements that were depreciated or can I also incude improvements that totally expensed in the year they were purchased I've owned the building 30 years so lots f small things - new appliances , new hot water tank, etc

Level 20
This widget could not be displayed.

Investors & landlords

You can not adjust your basis for improvements that were expensed (not depreciated).

That would amount to "double dipping", since you already took a tax deduction for the expenditure.

View solution in original post

Level 1
This widget could not be displayed.

Investors & landlords

okay  thanks