@Critter
Even if the money was spent in 2018 and the sale occurred in 2019?
Does the IRS view improvements done between the final tenant and the sale of the property differently than improvements done to 'active' rental property? If so, that would explain your answer - that all 'improvements', despite cost, or permanence, or classification, or land vs. structure designation - are 'repairs'? That solution would certainly lower my taxes but how would they increase my basis for avoidance of capital gains taxes? Or, in the long run, would the 'repair' costs directly offset capital gains, just like increased basis would?
Sorry for my lack of understanding, but this is the first time I've dealt with liquidation of a rental property that incurred such large improvement/repair/maintenance costs at the end of its business cycle.
