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rgfick
New Member

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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Hal_Al
Level 15

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.

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

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2 Replies
Hal_Al
Level 15

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.

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

Anita01
New Member

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.

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

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