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Ensuring major improvements added to cost basis of rental that was sold in 2023
I've entered the major improvements I made to a rental after the last tenants moved out in order to prepare it for sale (new HVAC, new flooring). I sold it in2023. I can't see where these sums have been added to the cost basis in order to reduce my capital gain. Can you tell me where I'd see that?
For clarification, I entered the new HVAC and 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.)
Thanks.
September 25, 2024
4:34 PM