Get your taxes done using TurboTax

Ok ... you do NOT need to upgrade ... but if you do simply click on the UPGRADE option in the lower left of the menu bar.

All you need to do is  manually add up the original purchase price + the cost to buy + improvements made along the way + cost to sell  =   cost basis entered as just one amount.  There is no separate entry fields for these things.   Do not adjust the selling price ... just enter it as it is on the sales contract.  

And  taking the standard deduction or using itemized deductions  have NOTHING to do with the sale of the second home reported on the Sch D.