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Investors & landlords
In the TT program, when selling a rental, adding the improvements to the basis is awkward at best so just add them to the Sch E as a repair expense and you will get the proper deduction for the same year non asset expense. Adding it to the basis of the property will not work to keep it a short term situation even if you could figure out how to do it in the program.
‎April 28, 2021
6:51 PM