Which expenses can go to real estate inventory?

I am rehabbing a house and need to know what expenses be assigned directly to the improvements for figuring profit on the property. My items in question are:
insurance heating fuel for working in the house in cold weather utilities (after the furnace was repaired) supplies;screwdriver bits, saw blades, etc.
Thanks
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On Fri, 15 Oct 2010 10:27:38 -0500, Michael Dobony wrote:

Forgot one questionable expense, taxes.
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On Fri, 15 Oct 2010 10:40:20 -0500, Michael Dobony wrote:

None of them. Utilities and maintenance costs do not add value to the home. If you had replaced the furnace with a new furnace, that would be considered a capital improvement that would prolong the useful life of the house. In addition, look for improvements that enhance the property's overall value (e.g., solar panels, building an additional room, high efficiency windows). Merely paying for expected repairs to keep the house in the condition it was purchased are not improvements.
Some areas are tricky. For example, replacing a few worn roof shingles is considered repairs. However, replacing a good portion or all of the roof shingles are considered improvements. Regular landscaping is considered maintenance, but major landscaping can add value to the home.
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