Thank you. Just so I am thinking correctly. The full cost basis would be 621,599 (full price of the home) 7664 (purchase expenses) and 41,500 (home improvements) = 670,763 x 46% = 308,551
The selling price was 705000 (324,300 is 46%), expenses were 44,437 (20,441 is 46%) and you said 46% of the cost. Is that the 308,551 above?
If that's the case, it would be -28,688.
If all of this is correct, then I am wondering where and how I input this into the turbo tax premier system.
thanks so much for your help! I was really at a loss ( 🙂 )
