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Updated over 6 years ago on . Most recent reply

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Kevin Gates
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Minimizing Capital Gains Tax After Investing in Rental Property

Kevin Gates
Posted

I have rental property and have put in $4,000 of improvements (i.e, new garage door, new carpet) while the house was tenant occupied this year. Now the tenant moved out and the property is vacant. I discovered the roof needs to be replaced for $10,000 this year. I plan to sell the house next year. Can I deduct the $4,000 and $10,000 when I have to pay capital gains after the property is sold?

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