Dear all,
I am trying to determine whether I have the right to include repair costs into the cost basis of the house I am selling.
These repair costs were done between two rental periods (the previous renters completely destroyed the place so necessary to do the repairs before the new renters moved in).
These repairs were already included as deductable maintenance/repair costs against the rental income declared in the year of repairs.
I am correct in assuming I can NOT add these same repair costs into the cost basis of the same house now being sold? It seems like I would be 'double-dipping' but thanks for any advice.
Regards,
Oilguy
You'll need to sign in or create an account to connect with an expert.
Thank you for your quick response.
Regards,
OG
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Jan Chabot
New Member
qhgnlm
Returning Member
Fisher97
Returning Member
Fisher97
Returning Member
PiPPoNYC
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.