I sold a rental in 2023. I entered major improvements made for the sale (and after the last tenants moved out) like a new HVAC system and new flooring in the “Your Property Assets” section, which comes up after you select “Sold rental property”? (With information from other answers here, I was able to enter them so that no depreciation would be taken.)
These expenses should be added to my basis to reduce my capital gains, but I can't see where there were added. Can you tell me where that information appears?
Thanks
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You should be able to see all the information related to that disposition on form 8949. If you are using the online version, you will have to go through the checkout process so it allows you to print. You don't have to e-file immediately, even if you go through the checkout process. Once you are able to print it, check the generated pdf and look for the form 8949 and confirm that all the information you entered it is showing correctly.
I don't have access to the forms. If I do check out, get access, and print it, and something is wrong, can I go back and make corrections?
Yes, you can always make changes to your returns as long as you have not filed the return. Once you file, you cannot change anything.
Once you check out, print a PDF copy of the return and look at Form 8949. You'll be able to confirm the asset additions on the Form.
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