No. The property is only what is land and the structures that are permanently attached. The sale of the personal property in the house would be a separate transaction. You can add capital improvements done to the property to the basis. This would include things like:
- Remodels and room additions (including decks and porches)
- New or upgraded landscaping, irrigation, sprinkler system
- Hardscape such as pavement, block or retaining wall, patio
- Fencing
- Swimming pool, spa
Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?
Do I have to report personal items that I sold? (only if it there is a gain on the sale) You can't deduct personal losses. The basis of those items is the original cost; search your bank statements. If you don't know or remember the original cost, yes, you can use replacement value. You should make a "good faith effort" to ascertain the Fair Market Value (FMV) of the personal items you sell at a profit (for more than you originally paid for it).
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