Purchased rental for $8200. New shingles, siding, windows, furnace, floors, appliances and deck. Can I include improvements in cost of rental?
Had hail storm which made us replace siding and shingles. Can I include that in the cost of the rental?
Had hail storm which made us replace siding and shingles. Can I include that in the cost of the rental?
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.]Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.