turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

oilguy34
New Member

Repairs for Rental Property in Cost Basis

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

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Repairs for Rental Property in Cost Basis

 
oilguy34
New Member

Repairs for Rental Property in Cost Basis

Thank you for your quick response.

Regards,

OG

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies