I sold a rental house in 2020. While I was renting the property, I did several improvements, such as a kitchen remodel, bathroom remodel, new roof, landscaping, etc. (I had 30 improvements over 9 years of rental, and each of these improvements is listed as an asset with Tubotax.) According to your instructions, I entered the property sale in the Business Income and Expenses section. I prorated the sales price and sales expenses for the land value and the structure value. When Turbotax calculated the gain, it did not include any basis for all the improvements that I did on the house. What am I doing wrong? If I have to prorate the sales price and expenses across all the improvements as well, there will be over 30 lines entered on the Form 4797 just for the sale of one rental house.
