• Question: re: paying Capital Gains on Rental Property we sold

    From Mark1154@21:1/5 to All on Mon Oct 30 06:37:56 2017
    We will need to pay recapture and capital gains on a rental property we sold. In trying to lower our gain I was told we could itemize major renovations made to the property. My question is: If we took the various expenses on the renovations done in the
    year they were done as deductions on Sched E can we use these to also lower our gain in figuring what we owe for 2017?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)