Secondary residence- house painting. we sold a secondary residence in july 2017. we painted the house in june 2017 to prepare the house for sale. can we deduct this exp?

tessie2701 · ‎June 4, 2019

Opus 17 · ‎June 4, 2019

No, general repairs are not deductible, they're just stuff you are supposed to keep up with.

Permanent improvements, on the other hand, such as a furnace or new roof, can be added to the cost basis and may reduce your capital gains.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

Opus 17 · ‎June 4, 2019

No, general repairs are not deductible, they're just stuff you are supposed to keep up with.

Permanent improvements, on the other hand, such as a furnace or new roof, can be added to the cost basis and may reduce your capital gains.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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