I sold an investment property that needed a lot of cleaning up. Can I deduct dump fees and mileage for all the trips I made to the dump? It wasn't a residence I lived in.

This was an unfinished mountain home. Building permit had expired and had become very rundown, full of building materials (many of which were now useless). This was not a house anyone resided in. It was bought for the purpose of cleaning it up, renewing permit, and selling. I made over 100 trips to the dump emptying out this house.

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1 Best answer

Level 15

Jun 6, 2019 1:25:22 AM

Yes. Expenses of sale may be added to your cost basis in calculating your capital gain or loss.

Level 15

Jun 6, 2019 1:25:22 AM

Yes. Expenses of sale may be added to your cost basis in calculating your capital gain or loss.

New Member

Jun 6, 2019 1:25:25 AM

You could not expense the dump fees but you can add them to your cost basis in the property

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I sold an investment property that needed a lot of cleaning up. Can I deduct dump fees and mileage for all the trips I made to the dump? It wasn't a residence I lived in.