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Investors & landlords
If the flooring was a capital improvement you will add the cost of the flooring to the basis of the rental property. The flooring is a capital improvement if it is hardwood, tile, vinyl, and glued-down carpet.
The other expenses were incurred in preparing the property for sale when the property was not available for rent as @ColeenD3 stated in her reply those expenses are not deductible as an expense.
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‎February 20, 2022
1:55 PM