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How to add capital improvements to basis of inherited property in TurboTax
My wife inherited a house from her mother, so we get the stepped-up basis of the value of the property as of her mother's death. But then we made capital improvements to the house before selling it. Turbotax Deluxe asks for the value on the date of the decedent's death and uses that number as the basis of the asset and does not seem to provide an opportunity to add post-inheritance capital improvements to the basis. Is there a screen on which that information can be added, or do I have to go to the tax form and manually override the basis that TurboTax puts there (which is the value as of the date of inheritance)?
‎April 3, 2025
8:45 AM