The garage of my house caught fire and needs to be rebuild. I bought the materials but have not yet rebuilt the garage. If I sell the house along with the not yet installed materials would they be included in the basis?
Thank you.
02394
2 Replies
DavidD66
Expert Alumni
Feb 21, 2021 2:46:36 PM
If they are part of the sale, then yes. I would have the materials added to the sales contract, much like appliances are often included in contract for the sale of a house.