Your basis in the property will include your capital improvements over the years, and increasing the basis will reduce the gain.
If you want to check it in Turbotax, use the "sale of home" interview in the Other Income section.
You are first asked for selling price and selling expenses. You are then asked for your cost basis; click the "Easy Guide" icon. This will give you a detailed interview on adjustments to cost basis (improvements, closing costs, etc.) One of the questions is "did you ever sell a home before this?"
If you say yes, you get taken to a screen to add your prior rollover information. (Also a note that it only applies to gain postponed from a home sold before 1997.)
This question was previously answered by Opus 17
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