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How to include new HVAC as part of cost base when selling rental property?
Hi,
In 2020, I have HVAC contractor installed a grand new HVAC system in my rental property. I sold this rental property in 2021.
Here is my understanding:
My rental property cost base = original purchase price – depreciation over years + cost of grand new HVAC system – one year depreciation of grand new HAVC system.
Here is my question:
Within Turbo tax, what I need to do to tell Turbo Tax to include cost of grand new HVAC system as part of cost base?
Thanks,
Bob
April 3, 2022
5:36 PM