I made improvements to a rental property, including adding a roof, and then sold it in the same year. TurboTax tells me to add the roof as a separate asset, which I've done. Do I then need to sell this asset? Do I say I sold it for $0? Some of the answers say to also report the improvements as part of my adjusted basis. It doesn't sound correct to report it in both places (as an asset and as an increase to basis). Which one is correct?
