Right. That is handled with the basis.

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Mar 29, 2025
4:23:09pm

allaboutthegainz All-American

Right. That is handled with the basis.

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allaboutthegainz

Previous username: allboy10
Bio page: allaboutthegainz
Joined: Jun 9, 2010
Last login: Apr 1, 2025
Total posts: 10,303 (0 FO)

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Messages

Author

Time

Need tax advice on sale of rental property

cougarblue All-American

Mar 29, 3:52pm

In very general terms, the improvements will increase the basis. The gain you

allaboutthegainz

Mar 29, 3:56pm

To add - the mortgage is largely irrelevant too for the gain calc.

JJCoug

Mar 29, 4:21pm

Right. That is handled with the basis.

allaboutthegainz

Mar 29, 4:23pm

Get a CPA

RexIdaCoug

Mar 29, 3:57pm

Yep need a CPA. Need to add back depreciation. You loan is irrelevant you need

johnnybyu

Mar 29, 4:52pm

So paying off the mortgage isn’t considered an expense?

cougarblue

Mar 29, 6:41pm

Nope. You need a CPA.

JJCoug

Mar 29, 7:57pm

Nope

johnnybyu

Mar 29, 8:29pm

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