Q:Adjusted Basis for Investment Property (Not Rental)?

Answers:0   |   LastUpdateAt:2012-08-09 00:45:02  

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Happy Face!
Asked at 2012-08-09 00:45:02
Q:Adjusted Basis for Investment Property (Not Rental) Asked by JLBROWN22 On Feb 06, 2011
I purchased a bank owned property (house) for the purpose of rehabbing and selling. For determining my adjusted cost basis, am I permitted to include the cost of utilities and insurance I paid during the time I owned the property. It was vacant the entire time and never put up for rent.

Thanks,
Email: JLBROWN22@YAHOO.COM
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