- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
The architectural expenses that you paid for your former rental property will be added to the cost basis of what will be your personal residence.
All of the capitalized costs will be added to the basis of your personal home and will reduce the gain when you sell the house that you are converting.
There is no place to enter this in TurboTax. Keep track of all of the improvements for your soon-to-be primary residence in your records.
Please see this TurboTax Tax Tip about Home Improvements and Your Taxes.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 11, 2023
9:36 AM