I bought a rental property for $5000 but it had $8000 in back taxes. I put 10,000 in it to make it livable. Can add up all my expenses to claim depreciation on my taxes.
01920
1 Best answer
Vanessa
Level 3
Jun 4, 2019 6:51:29 PM
Yes, these costs are included in the cost basis of the home and depreciated as part of the home.