Purchased rental for $8200. New shingles, siding, windows, furnace, floors, appliances and deck. Can I include improvements in cost of rental?

isaak092210 · ‎June 6, 2019

Had hail storm which made us replace siding and shingles. Can I include that in the cost of the rental?

IreneS · ‎June 6, 2019

Yes. All those costs can be added to the basis (the cost) of the rental property. This will reduce any gain when you sell the house down the road

[If you're referring to the amount of rent you charge, it will all depend on the rental market.]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

IreneS · ‎June 6, 2019

Yes. All those costs can be added to the basis (the cost) of the rental property. This will reduce any gain when you sell the house down the road

[If you're referring to the amount of rent you charge, it will all depend on the rental market.]

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.