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I sold a rental property in 2002 and right now I'm gathering documentation to figure my basis.

I purchased the property in 1990 and lived there until 1996 when I converted it to rental property. I have receipts for improvements prior to the conversion and after the conversion.

It would appear that when I prepared my 1996 taxes, I did not add the improvement costs from 1990-1996 to the basis listed on that year's return.

Is it too late to add them now? I'm thinking it is because maybe improvement costs to a residential property are treated differently than those of a business property?

Thanks, HR

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