topic Renters left no forwarding address, sold our primary home. How do I deduct cost of making significant repairs in order to make former 2nd home/rental my primary home? in Investors & landlords

Renters left no forwarding address, sold our primary home. How do I deduct cost of making significant repairs in order to make former 2nd home/rental my primary home?

d_peters314 — Sat, 01 Jun 2019 15:22:59 GMT

Repairs required due to damages by renters.

The cost of repairs you made to the home are added to the...

IreneS — Sat, 01 Jun 2019 15:23:00 GMT

The cost of repairs you made to the home are added to the basis of the property rather than taken as expenses. This will reduce capital gain when you sell the house in the future. They are not deductible since home did not continue as a rental property.