I have a follow-up question. I purchased the condo unit in 2006. I was an apartment conversion project and I choose to purchase and remodel vs paying the developer to remodel. I purchased the unit for 123,000 and investing 18,000 for a remodel prior to renting. I did originally report the major capital assets individually back in 2006 for depreciation.
So, now that I sold the unit in 2021, should I report 123k as the cost basis or 141k(123k+18k)
regards, Richard
