Selling a second home. Home inspection found various issues including missing porch rail and damage due to water under patio doors. Rough estimate would be $3,300 dollars to correct. I offered buyer a boat, ATV and trailers valued at the same cost as the necessary home corrections. He accepted this offer. Can I use this value to increase my adjusted cost basis directly or by increasing the sale cost of the home.
Also paid $2,500 dollars directly to buyer to extend septic system from 2 to 3 bedrooms. Can this also increase the adjusted cost basis, either directly or by increasing the sale cost of the home.
