Yes, windows and a carport would be a capital improvement. The deck renovation would be a capital improvement if it was not normal maintenance, but increased the useful life of the deck such as replacing all the boards or turning it into a sunroom. If you simply painted the deck and replaced a rotted board that would not be a capital improvement.
For the things that qualify as capital improvements, yes, they would lower your capital gains as they would be added to the cost basis of your home.
Yes, you would complete form 8949 with your return. To complete this form you will select the following in TurboTax:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other
- Continue through and select Other again for the type of investment
- Select second home
- Answer how you obtained the house
- You will need to enter the selling price, dates and the cost basis of the house (this is where you will add the capital improvements to the purchase price of the house)
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