After probate closed in 2018, we inherited a property.
The FMV at the date of death in 2017 has been determined.
It is not a rental since it needs repairs.
It has carrying costs (utilities, insurance, HOA fees) in preparation to sell.
It is not a second home, and thus it is a investment property.
So when the investment property sells in 2020,
can the costs of repairs (paint, carpet, dry rot repair, etc)
and the carrying costs (HOA fees, utilities, insurance), for each year, after probate closed in 2018,
be added to the date of death FMV, as the new adjusted basis, when we file our tax return in 2021?
