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Subject: Re: capital improvements to primary residence | Date: 4/20/2003 1:19 PM | |
Author: irasmilo | Number: 65114 of 131768 | |
Appliances are not considered part of the basis since they are not permanently and integrally attached to the structure. If you sell your appliances along with your home, you have two (or more) sales for tax purposes. You can claim the $250/$500K exclusion on the house if you qualify. The sale of the appliances would be taxable if they are sold for more than their basis, and non-reportable if they are sold for less than their basis. If you were talking about a central air conditioner, you would be adding to the basis. Ira |
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