I purchased land over 20 years ago where I parked a park model RV for us. Over the years I made improvements to the land, such as retaining wall, patio, etc. I sold that land this year and I believe for the sale, I can include the improvements in the cost basis. Do I simply add up the cost of my improvements plus the original purchase price of the land and that becomes my cost basis for taxes? Or any advice on where to capture this information? Please note, this was not rental property.
