My question is the "Sales Expenses" as shown in this picture. I understand that you enter closing costs in this box, BUT do you also enter major home improvements such as a new roof, windows, and furnace in this box also along with the closing costs? Or does it need to be entered elsewhere. Please reply with easy to understand answer. thank you for your help.
02257
2 Replies
Mike9241
Level 15
Feb 3, 2023 4:56:16 PM
improvements are enter on the next screen where it asks about purchase of your home
you can use the Easy Guide to help calculate your tax basis
Dave412
Level 2
Feb 4, 2023 5:12:01 AM
Thank you for the answer. So I will just put closing costs and go to the next page for improvements. Thanks again.