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Tax, SDIRAs & Cost Segregation
HomeForumsTax, SDIRAs & Cost SegregationAre repair costs expensed or added to basis when selling a rental house?
Randy King's profile image
Randy King's profile image
Randy King
  • Investor
  • from Madison, Alabama
  • Member since Feb 8, 2013
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Randy King's profile image
Randy King's profile image
Randy King
  • Investor
  • from Madison, Alabama
  • Member since Feb 8, 2013
Connect
Randy King
  • Investor
  • Madison, AL
28
Votes |
93
Posts
Tax, SDIRAs & Cost Segregation

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

Randy King
  • Investor
  • Madison, AL
Posted Feb 7 2015, 03:44

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?

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