Fr_Chuck
Mar 1, 2008, 04:08 PM
Ok, I sold some of my rental houses this year ( actually all of them) and I got 1099 or a substitue 1099 for each of them,
I am looking at what I can apply agaist that sale, I have the amount of money I still owed on them, the real estate fee's, \
But I am wondering what I may also deduct, I spent many 1000's of dollars doing new floors, paint and a roof on one, would those exenses come off the top of the profits ? I also got the renters out prior to sale, to have time to fix them up, would loss of rents work toward it.
I am looking at what I can apply agaist that sale, I have the amount of money I still owed on them, the real estate fee's, \
But I am wondering what I may also deduct, I spent many 1000's of dollars doing new floors, paint and a roof on one, would those exenses come off the top of the profits ? I also got the renters out prior to sale, to have time to fix them up, would loss of rents work toward it.