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Travel Expenses relating to making capital improvements and the sale of an inherited home

Following the death of my parents, and the transfer of ownership of their home to my brother and myself, I spent considerable time and expense traveling to the home to make repairs and capital improvements.  These improvements were made prior to the sale of the home and will be included when determining the cost basis.  Can my travel costs (based on a standard mileage charge plus tolls) be deducted or included in the cost basis of the home?   The home was used only by my parents.   What is the standard mileage rate I'm entitled to use?

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1 Reply
AmyC
Expert Alumni

Travel Expenses relating to making capital improvements and the sale of an inherited home

Had the work been done while the house was part of the estate, you could have submitted expenses for the estate to reimburse for the travel for upkeep of the house. Travel is not considered in a basis, I can imagine terrible abuse of that! .A rental house allows travel.

Publication 551 (12/2018), Basis of Assets | Internal Revenue Service details what is allowed.

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