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Audit Risk Results
In years past I am normally lower side of the middle. This year I am what looks like 85-90%. We sold Two rental properties, sold our primary, and moved into our last rental. We did a lot of costly remodeling to the rentals before selling. I put the repairs and supplies on the schedule E for that particular house. Should I just add all remodeling/rehabitating cost and enter it as "other" and descripe as remodeling for sale of property. It doesn't change the taxes I owe but would it bring down my Audit Risk? What else can I do to bring down my Audit Risk?
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‎April 11, 2022
1:25 PM