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Deductions & credits
Thank you. Useful information on capital costs for basis - basically I think I have to put capital improvements and selling costs all in the one line.
Regarding capital exclusion, lawyer says it is not a grantor's trust, but didn't answer whether exclusion may still apply as a 'substantial owner' - but it looks like Turbotax defaults that if not grantors, then exclusion doesn't apply. (I don't think this is correct...)
I think I will need in-person tax professional help to answer that...
3 weeks ago