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Mar 29, 2025
7:57
:45
pm
JJCoug
All-American
Nope. You need a CPA.
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JJCoug
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JJCoug
Joined
Sep 23, 2003
Last login
Apr 4, 2025
Total posts
3,773 (1 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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