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Business & farm
You purchased property in 2017 and made capital improvements to sell in 2019. When you sell the house, you receive a 1099S listing the sale price. On your taxes, you will enter the basis which is the cost originally plus purchase expenses plus improvements plus sales expenses.
This information goes on your schedule D and would be a capital gain.
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‎January 27, 2020
11:58 AM
7,112 Views