Question

How do I calculate "Adjusted basis of Home Sold"?

Forum|Forum|3 years ago
February 1, 2023
2 replies
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TurboTax Deluxe Online

Employee

The Adjusted Basis is the what you paid to purchase the Home plus the cost of any improvements to the home prior to the date of sale.

M

Mike9241

if you bought it, it's what you paid + the cost of improvements. if you inherited it, then its the Fair Market value on the date of death of the last owner (assuming you had no ownership interest at the time) + the cost of any improvements you made after inheriting it.