I sold house that was in my name since 1983 but parents lived in it can I claim repairs

[mwelfel]

I purchased house in my name cause parents lost everything back in 1983  Parents passed away and I sold house October 2017  Can I claim all the repairs I made including insurance utilities and labor  I never lived in house  Thank you 

[Vanessa · Accepted solution]

When you are entering the sale of the home it will ask you for your basis in the property.  This will be the cost of the house plus certain settlement fees, and things such as a new roof, an addition, a remodel or something else that increased the useful life of the house.  

You cannot include insurance, utilities or labor you yourself contributed to any repair in the house.  General maintenance would not be included either. 

https://taxmap.irs.gov/taxmap2013/pubs/p523-002.htm

[Hal_Al]

No.

You have sold a ''2nd home", which is personal use property (not investment property). None of the expenses (insurance, utilities, maintenance) are deductible and may not be added to your cost basis, for determining your capital gain. Any "improvements" (e.g.  new roof, an addition, a remodel), over the years,  can be added to your cost basis. Any "fix up" expenses, done in 2017,  specifically to get the property ready to sell, may be added to your cost basis. Expenses of sale (settlement fees, real estate commission) may be added to your cost basis.