Appraisal Fee

[JG EA]

Client got appraisals for two pieces of property for DOD valuation - inherited property. He has now sold the properties. In reading about appraisal fees it seems I can only put it on A? Am I missing something?

Is there any justification to put this as basis on Sch D? (Held for investment for over a year.)

Thank you,

JG

[jainen]

Yes I would

Yes I would add the cost of the appraisals to the basis at the time of acquisition (or the cost of sale when sold).

[JG EA]

Thank you.

I got hung up on Appraisal Fees only going on A for contributions, and Appraisal Fees allowed for basis "if required by the lender".