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August 12, 2024
Question

Entering rehab cost on the sale of a rental property.

  • August 12, 2024
  • 1 reply
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I bought a property back in 2006 & rented it out.  I sold the property in 2022 but did $31,000 in rehab to sell the property.  Where do I enter the $31,000 in rehab costs?

    1 reply

    M-MTax
    August 12, 2024

    When did you do the rehab? Right before the sale? You add the cost to your basis and take a depreciation deduction when you place the finished product into service.