You add the cost of capital improvements to your cost basis in the house.
Sale of your main home, it’s reported under Less Common Income in the Wages & Income section.
- Open or continue your return
- Type sale of home in the Search box
- Select the Jump to link in the search results
- Follow the screens to enter your info.
Profits of up to $250,000 ($500,000 on a joint return) on the sale of your home may not be taxable if it was your primary residence for two of the last five years. We’ll ask you some questions about the sale of your home to see if you qualify.
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