I have deductions for rental house (2018) I sold the house 2019 Can I hold those repair deductions and file them with next year's taxes to offset the sale earnings?

toniakc — Sat, 01 Jun 2019 18:06:10 GMT

No. Repairs are deducted in the year they are made. If yo...

Coleen3 — Sat, 01 Jun 2019 18:06:12 GMT

No. Repairs are deducted in the year they are made. If you had major improvements, those are added to the basis and help at the time of sale.

Here are some more capital improvements:

Remodels and room additions (including decks and porches)
New or upgraded landscaping, irrigation, sprinkler system
Hardscape such as pavement, block or retaining wall, patio
Fencing
Swimming pool, spa
Storm windows, doors
New roof
Central vacuum or security system
Upgraded wiring, plumbing, duct work
Central heating, AC, humidifier
New furnace, water heater
Filtration, soft-water, or septic system
Built-in appliances
New flooring or wall-to-wall carpeting
Upgraded insulation
Satellite dish

The cost of repairs, on the other hand, is not added to your basis. Fixing a gutter, painting a room or replacing a window pane are examples of repairs rather than improvements.

topic I have deductions for rental house (2018) I sold the house 2019 Can I hold those repair deductions and file them with next year's taxes to offset the sale earnings? in Investors & landlords

I have deductions for rental house (2018) I sold the house 2019 Can I hold those repair deductions and file them with next year's taxes to offset the sale earnings?

No. Repairs are deducted in the year they are made. If yo...