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Calculating cost basis on investment property when I depreciated renovations
If I did renovations on an investment property that I depreciated separately from the original property depreciation, when I go to sell said property, can I add the cost of those renovations to the cost basis? I understand I need to do the depreciation recapture, but can I also add the cost of those renovations to the cost basis?
‎April 4, 2021
7:18 PM