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Investors & landlords
Would work I've done to replace the flooring and windows go in that same area? Or that would be under remodel?
The "labor cost" for your physical work can not be assigned a value or claimed anywhere on any tax return. The cost of the materials for the flooring and new windows, as well as labor costs you paid to another to install those items get included in the cost basis of the property as a whole, provided that work was done before you converted it to a rental.
‎February 16, 2022
5:26 PM