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Message
re: Capital gains questions
Posted on 4/11/24 at 8:27 pm to Dawgfanman
Posted on 4/11/24 at 8:27 pm to Dawgfanman
Yes I have made improvements
New fence
New fancy cap top gutters
Ect
New fence
New fancy cap top gutters
Ect
1
Posted on 4/12/24 at 12:37 am to kjntgr
New capital improvements add to your original basis.
Any depreciation you’ve taken as an expense lowers your original basis. When calculating your gain, a portion would be ordinary due to recapturing that depreciation.
Any depreciation you’ve taken as an expense lowers your original basis. When calculating your gain, a portion would be ordinary due to recapturing that depreciation.
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