Hi, @Greyrock, congrats on the purchase of the new home!
Keep in mind that the purchase of a home is generally not a "taxable event", so that purchase and most of the upgrades are not going to affect this year. However, both the purchase price of the home, as well as the cost of any improvements, contribute to your "basis" in the home. This may be important if you ever sell the home, as that basis will be used to determine the amount of any gain or loss you have on the sale.
The one exception to this is the cost of the energy-efficient upgrades which, as you said, may qualify you for a credit on this year's return. However, you might want to review this article, since the fact that this is not your primary home could be a factor if you installed fuel-cell equipment. Energy Tax Credit: Which Home Improvements Qualify? The credit can be split if your daughter paid for any of the expenses; otherwise, the credit is yours.
As to standard versus itemized deductions, the standard deductions for Tax Year 2022 are $25,900 for joint filers and $12,950 for single filers. To determine which is most beneficial, it is simply a matter of adding up your potential itemized deductions, including your shares (again, how much each of you actually paid) of mortgage interest and property taxes, to see if these amounts would be exceeded. The good news is that TurboTax makes this easy for you and will make the calculations for you based on the information you input.
Hope this helps!
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