Sold a piece property where do I add capital improvements to the cost basis

Forum|Forum|1 year ago
March 27, 2025
2 replies
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I sold some land. I bought it for 160,000 and sold it for 380,000. I made 40,000 in capital improvements. Where do add the 40,000 to the 160,000 cost basis to bring it up to 200,000?

Do i just add it to the cost basis field in Turbo Tax in the investment section? Or this there another place to add it. I have Turbo Tax Premier.

Best answer by Vanessa A

Yes. You just add it to the cost basis field in TurboTax in the investment section. There is no need to do a breakdown, you will just enter the $200,000.

DoninGA

Employee

In the investment section of the program just add the cost of the improvements to the cost basis.

Vanessa AAnswer

Yes. You just add it to the cost basis field in TurboTax in the investment section. There is no need to do a breakdown, you will just enter the $200,000.

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