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Level 1
June 6, 2019
Solved

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

  • June 6, 2019
  • 1 reply
  • 12 views

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

Best answer by Irene2805

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.]

1 reply

Irene2805Answer
Level 15
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.]