Claim Tenant Improvements ?
Hello,
If a tenant made improvements on my property during their rental period and then I sell the property, can I adjust the cost basis of the price I paid for the property by the value of their improvements so as to have less of a capital gains hit ?
Thanks !
P.S. They would be buying the property from me on a L/O, make any difference ?
No, your cost basis does not change because the tenant improved your property at his own expense.
Since your cost basis does not change, how you facilitate the sale is not a factor
no, it was not it was not a out of pocket expense for you....km
Wasn't sure, thought I'd ask.
Thanks for the responses.
hey leadman good luck your on the right track.........km