Entering rehab cost on the sale of a rental property.
I bought a property back in 2006 & rented it out. I sold the property in 2022 but did $31,000 in rehab to sell the property. Where do I enter the $31,000 in rehab costs?
posted
4 weeks ago
last updated
August 11, 20247:02 PM
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Entering rehab cost on the sale of a rental property.
When did you do the rehab? Right before the sale? You add the cost to your basis and take a depreciation deduction when you place the finished product into service.
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