I bought an investment property ( house ) in June 2108 to fix and remodel then It was sold in March 2019. Do I need to report the expenses in the 2018 tax return ?

495

Intuit Alumni

Jun 4, 2019 2:54:14 PM

No. You do not need to report the expenses. You will add the improvement costs to the basis to reduce your gain for the 2019 sale.