I purchased a second home (purely as vacation home, no rental) 10 years ago and sold it last year for a $80,000 profit. I know I can deduct my closing costs from this profit, but can I add any of the following to the cost basis (thus lowering the profit subject to capital gains):
- New carpeting and hardwood floors
- New air conditioner (upgraded)
- Replaced furnace and hot water heater (broken)
- Sold fully furnished (can cost of furniture be added to cost basis?)
Thanks for any guidance you can give me
