James- Thanks for the reply.
My confusion is still that TT doesn't take the capital improvements spend off the selling price of the property.. nor does it add it to the basis .
I see that I can enter that I sold the "Capital Improvement" asset but do I say that I sold it for "Zero" ?
Basically I'm trying to figure out how I get to deduct the $100k in capital improvements from the Capital Gains on the sale of the property in Turbo Tax.
Also, since I'm doing the capital improvement in the same year I'm selling the property does that mean I should not enter it into as a depreciable asset since I read somewhere that you are not supposed to depreciate improvements in the same year that you are selling the property.
UGH..
Thanks for any input
