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Updated about 10 years ago on . Most recent reply

User Stats

93
Posts
28
Votes
Randy King
  • Investor
  • Madison, AL
28
Votes |
93
Posts

Are repair costs expensed or added to basis when selling a rental house?

Randy King
  • Investor
  • Madison, AL
Posted

We are in the process getting a house ready to sell that has been rented. Are expenses such as painting and misc other items expensed for that year or are they added to the properties tax basis when sold?

Most Popular Reply

User Stats

5,271
Posts
2,325
Votes
Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
2,325
Votes |
5,271
Posts
Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied

Basis.

  • Steven Hamilton II
  • [email protected]
  • (224) 381-2660
  • Loading replies...