- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Improvements made to an inherited property prior to selling it. Can I deduct these?
I inherited my mother's home (split equally 3 ways - between myself and two sisters). Prior to selling the inherited home, we had the inside of house painted, and after finding a small amount of water under the house, we had Drypro install a french drain around the inside permiter along with a sump pump. Total cost of painting $2,850 (1/3 = $950); Total cost of DryPro work $5,602 (1/3=$1,867). Can I reflect this as a deduction expense and if so, where in TurboTax do I record this?
‎February 6, 2023
7:36 AM