The IRS has lots information on how to fill out your taxes.

Thanks to recent clarifications from the IRS you will also be able to defer not only the capital gain and normal depreciation. 

IRS Relief: After disasters, check for postponed deadlines and other relief options.Stay safe and prepared!

We refer to this as reconciling to the previous tax return.As far as where to get the information to calculate some of these values, most of it can be derived from the closing/settlement documents for the fixed asset.To calculate depreciation, amortization, etc, you'll dig through IRS publications.

@Enrique Mendez Hop on google and look up "First Time Homebuyer, Illinois resources" There are $10K downpayment loans and grants available to first time home buyers.

You and I can hop on a livestream, and call any leads you want head to head for 3 hours. 

More than happy to hop on a call and talk about it!

The IRS defines a repair as something that keeps your property in good working condition without significantly adding value or extending its life.

It'll still be mediocre wine in Fredericksburg and brown ocean water in Galveston, but there's a massive increase in the pool of people that can hop in the car and go for a weekend. 

Just the IRS tax rules.