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Level 2

Question

How do I report the sale of my home

Forum|Forum|7 years ago
June 5, 2019
1 reply
2 views

I bought my home in 1989 then tore down the trailer and put a new home in 2000 on the same property how do I report this on the sale of this property in 2017?

TurboTax Premier Online

A

Anonymous

Your cost basis on the sale is the original purchase price plus any improvements made since you bought it, so add all those improvement costs to your basis.

memaraplynAuthor

Level 2

So My original cost in 1988 for the purchase of the land and mobile home. So when I replaced the mobile home for a manufactured home that would be the improvements? So I add it all together to input in the section for adjusted cost basis?