2205703
You'll need to sign in or create an account to connect with an expert.
It depends. You called it a rental, a not-for-profit, and a personal home. I am assuming it is your personal home and someone is maybe a roommate that helps with expenses. In that case, no. Improvements are added to the basis of the home.
Thank you @ColeenD3 for your expedited answer (and apologies for my delayed approval as family is in town). You read into my summary accurately - I was trying to post limited personal info.
You gave the answer I needed even if it wasn't the answer I wanted. Lol. Oh well. That was the last piece of the puzzle that I needed. Thank you!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
syounie
Returning Member
ramseym
New Member
DallasHoosFan
New Member
eric6688
Level 2
user17538342114
Returning Member