bebop
Level 3
Friday
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Where do I enter the cost of a major renovation project done to prepare a rental property for sale. Do I add it to selling expenses when entering the sale of the property? I read somewhere to add it to the basis, but I don't know how to do that without depreciating it and I know I'm not supposed to do that.
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IRonMaN
Level 15
Friday
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Adding to selling expenses will get you to the same bottom line as adding directly to basis.
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