Real Estate
Sponsored by

"Renovations" that can be deducted after selling a second home

1,033 Views | 1 Replies | Last: 3 yr ago by histag10
water turkey
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:55p, 2/24/21
I sold a second home in Colorado last year. What constitutes a "renovation"?

Does $15,000 for rebuilding basement walls constitute a renovation?

TIA
Reply Quote
combat wombat™
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to water turkey • 10:33p, 2/24/21
AG
It's probably actually a repair, like a new roof. Unless you significantly improved the original walls/basement.
Reply Quote
histag10
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:02a, 2/25/21
AG
Basement walls may count as foundation repair...?
Reply Quote
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.