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Employee
June 6, 2019
Solved

I sold an investment property that needed a lot of cleaning up. Can I deduct dump fees and mileage for all the trips I made to the dump? It wasn't a residence I lived in.

  • June 6, 2019
  • 2 replies
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This was an unfinished mountain home. Building permit had expired and had become very rundown, full of building materials (many of which were now useless). This was not a house anyone resided in. It was bought for the purpose of cleaning it up, renewing permit, and selling. I made over 100 trips to the dump emptying out this house.

Best answer by Hal_Al

Yes. Expenses of sale may be added to your cost basis in calculating your capital gain or loss.

2 replies

Hal_Al
Hal_AlAnswer
Employee
June 6, 2019

Yes. Expenses of sale may be added to your cost basis in calculating your capital gain or loss.

Employee
June 6, 2019

You could not expense the dump fees but you can add them to your cost basis in the property