14 years of improvements changes the basis not the type of property from
primary residence to investment.
"George Patterson" wrote in message
news
ntkf.2786$Yh2.496@trndny01...
TaxSrv wrote:
You probably forced the software to consider it investment property,
which it wasn't. We can in provable circumstances hang onto a
former
home as investment property, but 9 months of just fixing up for sale
won't make it such property in IRS eyes, no way.
How about 14 years of fixing it up? That's what I did, and I have
before and after photos to prove it. I pretty much gutted the place
and rebuilt from scratch.
George Patterson
Coffee is only a way of stealing time that should by rights
belong to
your slightly older self.