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Updated almost 8 years ago,
Been IRS audited upon sale of rental property??
Have anyone been picked for IRS audit upon sale of a rental property?
How many years does IRS go back in terms of checking the reported expenses and income, and the accumulated gain/loss over the years? If you read the IRS website, it requires keeping records for as long as one holds the rental property.... But do they really go back 30 years if the property has been held for 30 years? Thank you