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<p>[QUOTE=&quot;ldhair, post: 26255091, member: 11540&quot;]You can&#039;t use anything that was done in the past. You would have used that to reduce the taxes you paid in that tax year by showing them as repairs. </p><p>Major things like roofs, carpet or a major remodel have to be shown as a capital exp. and set up for depreciation. They can be set up for a shorter period, 8 to 12 years. Setting stuff up for depreciation actually adds the amount to your basis. </p><p>Any cost you have getting a house ready to sell goes to the basis. I&#039;m making it sound simple but the CPA has to show everything in the proper way on your tax return. Things really get interesting if you are showing a loss on the property. It may have to be split over more than one year.</p><p><br /></p><p>I preach getting a CPA because the tax laws are always changing.[/QUOTE]</p><p><br /></p>

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