t/p has bought a house to fix up and resale. They are not living in the home. They listed utility bills as part of the basis. What about insurance they paid on the home. None of this was personal use. Thanks.
Announcement
Collapse
No announcement yet.
investment house basis
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.