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Updated over 7 years ago,
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New property maintenance vs increase of basis
When I buy a brand new property and spend money making it rent ready, I'm not sure what to classify as maintenance vs adding to my cost basis. For example:
* Getting new door locks
* Getting a new garage door opener
* Lawn service
* Painting
* Cleaning
* Utilities
* Buying air fresheners & flowers
Previously every $ spent prior to the first tenant moving in I've added to my cost basis, but I'm starting to second-guess myself.