Taxes on a long term rental property

[Rao V.]

I have a question on tax regarding a long term rental that I recently sold.

Here is the situation:

• Bought a house in 2010 for lets say 100K.
• Spent 50k in 2011 on repairs and to make the house rentable.
• After repair the house was a rental.
• Now I just sold the house in 2022 for lets say 300K.

Now I am doing the taxes for this house and the way I am calculating the taxes is 300k - 150k = 150 taxable. 

Question : Is that ok to include the expenses that I incurred in 2011 while having this house as a rental?

Note : I never reported the 50k that I had spent on the house repairs.

I know I made a mistake by not reporting the expenses incurred in 2011.
Back then I had no clue that you have to report expenses in the same year.

I thought I will deduct these expenses whenever I will sell the house.

Question: How can I include the expenses of this rental that I have spent in 2011.