Submitted By: someone
Answered: November 3, 2020 11:15 pm

I sold my vacation home after it was up for sale for over a year. Can I add utility costs and property taxes paid during the time it wasn’t being used by me to the cost basis of the home?

The cost basis of a home includes only capital improvements. Ordinary expenses, such as utility costs and property taxes, do not increase basis.

advertisement
Tax Glossary

Rollover

A tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within 60 days.

More terms