Yes, I was still thinking of the refrigerator as an asset and not an expense that I had already deducted as you clearly explained.Thank you for the guidance!
Hi Diane,In John's situation, you indicate needs to treat his $120K improvements as a selling expense.Assume that the $120K improvement were all made to the bui...
In my case, I acquired/put into service both the HVAC and Windows in Feb 2022 and sold them in Jun 2022. So, you confirmation about not needing to define additi...
Hi Carl,Thank for your detailed example as it was very helpful. In reviewing it, I did have the following questions:1) How did you compute the Sale Prices for e...