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If it is a question is Yes. If it is a statement, you have just reaffirmed my explanation. But remember, the IRS give the deducion once. After that, you must declare the profit. So, if you are selling another home that you have owned in a series, then the IRS deduction does not apply; capital improvements become handy to reduce your profit or increase your losses.
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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