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Investors & landlords
As I mentioned up front, all of the costs are improvements and thus both can be added to the basis - per the CPA I spoke with.
$30k is actually pretty easy and fast to get to after renting a home for a few years, not sure if you have done many home remodels and upgrades.
Here are a few sample costs:
New flooring - $3K
New HVAC - $10K
Paint all interior, replace baseboards & paint - $10K
Landscaping and tree removal - $3K
‎February 12, 2021
3:36 PM