One last question about selling Improvements ...
You stated that if I made a profit on the house, I need to show a profit on each improvement ... even if it only a $1. The total of all my improvements over 6 years was $33260. My purchase price was $215,000. My sales price was $315,000.
I'm going to use the new roof I put on the house. TT shows the following:
Cost: $7368
Business Use: 100%
Prior Depreciation: $3832
So going thru the improvement asset sales when I have to dispose of the roof, TT asks me to enter:
Sales Price: ?
Sales Expenses: ?
Am I suppose to show a profit on the original cost ... or use the figure after subtracting depreciation from original cost ... or .... ?
