Thank you… but I want to fully understand and do this correct.
Upon selling the vacation rental, I have to sell the 10 year old roof, for more than I paid 10 years ago?
And I have to sell the TV, Fridge, Stove, Hot water heater (and landscaping items) for more than I paid 10 years ago?
My first question, who would believe anyone could sell a 10 year old worn out item, for even 1 dollar more than it was at new, 10 years ago? I like being honest and truthful, and wonder if even the IRS would believe anyone could get more for a 10 year old worn out item, let alone would the home buyer? These items aren’t even in the closing docs. I’m wondering would I or anyone pay full price plus 1 dollar for a 10 year-old or even older item(s). Just trying to learn and understand 😊. Appreciate the help. Guess the IRS expects this oddity? Is disposing of the item, prior to the sale, more preferable? Thank you
