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June 5, 2019
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I bought a rental property for $5000 but it had $8000 in back taxes. I put 10,000 in it to make it livable. Can add up all my expenses to claim depreciation on my taxes.

  • June 5, 2019
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Best answer by Vanessa11_2

Yes, these costs are included in the cost basis of the home and depreciated as part of the home.

https://www.irs.gov/publications/p530

1 reply

Employee
June 5, 2019

Yes, these costs are included in the cost basis of the home and depreciated as part of the home.

https://www.irs.gov/publications/p530

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