What are applicable items allowed when figuring improvement costs at time of sale

You have left out a critical piece of information: do you rent the condo out or do you use it yourself? Under the circumstances I assume you rent it, but there is nothing in anything you said that would actually lead to that conclusion.

You have left out a critical piece of information: do you rent the condo out or do you use it yourself? Under the circumstances I assume you rent it, but there is nothing in anything you said that would actually lead to that conclusion.

My family and I use the condo personally several times a year. It is rented out once a year, at most, and then only for 13 nights or less.

Then it would seem the condo is personal use property.

If so, gains are taxable and losses are not alowed.

Your capital gain is gross sales price less adjusted cost basis less costs of sale such as broker commissions.

Adjusted cost basis is original cost basis plus cost of capital improvements. There is some turmoil now going on in the debate on whether something is an improvement, this not deductible for personal use property, or a capital improvement, which adds to basis.

But, for non-rental, we agree that painting is maintenance, as is refinishing floors. Right? The furniture doesn't even count.

The new doors and cabinets might add to basis.

We also agree (right?) that travel to your own home isn't a deduction of any kind.

However there is no tax on rental income for a residence rented out for 14 days per year or fewer. Likewise there are no deductions for things like depreciation and repairs.

But, for non-rental, we agree that painting is maintenance, as is refinishing floors. Right? The furniture doesn't even count.

The new doors and cabinets might add to basis.

We also agree (right?) that travel to your own home isn't a deduction of any kind. ========== Under old rules (I'm not certain if they're still current - I haven't had to deal with the sale of a residence for several years now), "fixing-up" expenses within 90 days of sale were usually included in computing the gain on sale, if any (even for personal use residences). I would include transportation costs in that as long as one can show it was necessary for the sale.

If we're talking about the pre-1986 rules, where you were allowed (IIRC) a one-time exclusion of $125K but could defer gain as long as you spent more on your new residence than the proceeds from your old residence, the fixing up expenses did not reduce your gain, but did count as reducing the proceeds from the sale.

Don EA in Upstate NY

If we're talking about the pre-1986 rules, where you were allowed (IIRC) a one-time exclusion of $125K but could defer gain as long as you spent more on your new residence than the proceeds from your old residence, the fixing up expenses did not reduce your gain, but did count as reducing the proceeds from the sale. =========Like I said - it could be those. I haven't seen a PR sale (only rental sales) for a long time now. My clients who own don't move alot.