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With home sale, any reason to add improvements to cost basis if already under capital gains limit?
We sold our home this year. Sale price - closing costs - purchase price is below the capital gains limit. However, we did make $50k in improvements to the house. Is there any advantage to including those in my tax return? I don't want to increase my audit risk or anything like that for no reason.
‎February 16, 2024
3:17 PM