2414593
You'll need to sign in or create an account to connect with an expert.
Fix-up expenses ended with the Taxpayer Relief Act of 1997.
I spoke with a Turbo Tax "tax expert", and she told me she had 25 years experience and that the 90 day rule for repairs/fix up to sell was dedectable; however, she could not find IRS code for it and a google search showed as you mention that is is no longer dedectable.
I spoke with a Turbo Tax "tax expert", and she told me she had 25 years experience and that the 90 day rule for repairs/fix up to sell was dedectable;
Again, that ended back in 1997.
, she could not find IRS code for it
Because it hasn't existed for more than 20 years now.
@louisebthacker wrote:
I spoke with a Turbo Tax "tax expert", and she told me she had 25 years experience and that the 90 day rule for repairs/fix up to sell was dedectable; however, she could not find IRS code for it....
Exactly, and the IRS is concerned with the Code (and Regs), not with the number of years of experience of "tax experts".
The comment was made that "If you needed to make home improvements in order to sell your home, you can deduct those expenses as selling costs as long as they were made within 90 days of the closing." Can someone please advise where in an IRS Publication or code or whatever it says that. IRS staffers indicate in the negative.
@Multifrus88 wrote:
The comment was made that "If you needed to make home improvements in order to sell your home, you can deduct those expenses as selling costs as long as they were made within 90 days of the closing." Can someone please advise where in an IRS Publication or code or whatever it says that. IRS staffers indicate in the negative.
That rule was eliminated from the law in 1997 or maybe even earlier. The current rules are in publication 523.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
fzmoda04
New Member
amy
New Member
rebeccaspann2011
Level 1
Bebl21
Level 1
gurtbfrobe
New Member