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Level 3
March 28, 2025
Solved

renovations for selling rental property

  • March 28, 2025
  • 1 reply
  • 7 views

Where do I enter the cost of a major renovation project done to prepare a rental property for sale. Do I add it to selling expenses when entering the sale of the  property? I read somewhere to add it to the basis, but I don't know how to do that without depreciating it and I know I'm not supposed to do that.

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Best answer by IRonMaN

Adding to selling expenses will get you to the same bottom line as adding directly to basis.

1 reply

IRonMaN
IRonMaNAnswer
Level 15
March 28, 2025

Adding to selling expenses will get you to the same bottom line as adding directly to basis.

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