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The cost of improvements is not deductible.  Improvements add to the cost basis of the home and may reduce your capital gains when you sell.   If you take out a loan to pay for improvements, the interest is deductible only if the loan is secured by the home.  That means the loan is recorded as a lien against the home with the county records office and the lender could foreclose if you stopped making payments.  Since a loan from a 401k is not secured by the home, any interest is not deductible.   You can deduct interest on a loan you take out to improve rental property as a rental expense.  However, there is a timing issue because you can't deduct rental expenses until the property is placed in service.  That means ready to rent and advertised so that it could be occupied.  If you needed to make improvements, the property probably wasn't really "in service" so the interest is not a deductible business expense.  You can still include the cost of improvements in your basis, which will give you a larger deduction for depreciation.  And even if you could deduct interest on a general bank loan used for improvements to the rental property, you can't deduct the interest from a 401k loan, since the interest is being paid to yourself. 

From 8k to 110k - that sounds like it is missing cost basis or opted out of the installment sale. It has to be in the 4797 / 6252 connection.   Go to "Tax Tools" (left sidebar) > "Tools" > "Delete a Form." Delete in this specific order: Form 6252 (Installment Sale) Form 4797 (Sales of Business Property) Asset Entry Worksheet (specifically for the drainage tile/farmland) Any "Sale of Business Property" Worksheets. Log out of your return and try one or more of the following: Don't use Internet Explorer. Clear cache and cookies, Sign in using a different browser. Sign in using a different device. Log back into your return. Enter the information again. Good luck!

"5 days early" means you are supposed to receive your federal refund from one to five days sooner than the refund date shown on the IRS refund site.   If it does not meet that "at least one day sooner" date, they are supposed to refund the $35 fee.   You have to pay attention to the date on the IRS refund site. You need your filing status, your Social Security number and the exact amount  (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds     Federal and state refunds come from completely separate entities.  There is no rule as to which one will come in first or how long it will be between their arrival in your account.   TurboTax gives you an estimated date for receiving your refund based on a 21 day average from your date of acceptance, but it can take longer.  “21 days”  is not a promise from TurboTax or the IRS.      First, check your e-file status to see if your return was accepted:  https://turbotax.intuit.com/tax-tools/efile-status-lookup/   Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.     You need your filing status, your Social Security number and the exact amount  (line 35a of your 2025 Form 1040) of your federal refund to track your Federal refund:    https://www.irs.gov/refunds   To track your state refund:     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/track-state-refund/L3jgO8PGs_US_en_US?uid=lt447ebr   If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing     https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refunds-take-longer-others/L14YlqFrH_US_en_US?uid=lexdr7zh . https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/irs-refund-taking-longer-21-days/L2vRAJbdU_US_en_US?uid=lexe7lst         If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act.  Do not expect your refund before early March   https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds-delayed-due-path-act/L5jnQJsBi_US_en_US   Note:  “Accepted” is not the same as “approved”.  TurboTax tells you the e-file was accepted if the IRS deems that there is enough information on the return for them to take it in for processing.   Only the IRS can approve of the refund, which is a later stage of processing.  If the IRS approves your refund they will provide a date for the refund to be issued.   FROM THE IRS WHERE’S MY REFUND SITE: https://www.irs.gov/wheres-my-refund How it works Where's My Refund shows your refund status: Return Received – We received your return and are processing it. Refund Approved – We approved your refund and are preparing to issue it by the date shown. Refund Sent – We sent the refund to your bank or to you in the mail. It may take 5 days for it to show in your bank account or several weeks for your check to arrive in the mail.    

When you Download a PDF copy of your return from the Home page, open it in Adobe Reader.  The first page will be 'Filing Instructions' that gives the selected payment option you chose for filing.   @feist 

@Bwana_Jones wrote: ....your knee-jerk responses have been consistently prosy, critical of folks asking honest questions, and largely unhelpful. Try harder.  How's the one below (just recently posted as one of thousands)?:   filing as real estate professional with 10 properties. my capital gains are not being reduced by my real estate losses. why?   How many have you answered? Oh, none! Once again, you're useless. Time to run along.

Is this for business?  Because if this is a personal car, it doesn't matter unless you sold the car for more than you paid.   Selling expenses could include the cost of placing an ad on an app or web site, if you selected the paid option instead of a free option.  If you agreed to pay for an inspection for the buyer,  or if you paid for an appraisal, that would be another cost of selling.  Detailing the car could be another cost.  (However, repairs are not a cost of selling.  You are expected to keep your property in good repair, and you don't get a tax benefit if you defer your repairs until you are trying to sell the car.)

I believe you, but something (too many attempts??) has moved you out of the normal processing loop.  Maybe they are issuing you an IP PIN, or maybe they are in a sense, forcing you to set up the Online Account.   You have to have them verify your identity, but you will have full access to all of your information instantly once it is created.  

If the IRS continues to reject your return for the correct IP PIN (verified at their site) and you've manually entered it (without any extra spaces), if you're using TurboTax Online, I'd recommend closing the program, clear your Cache and Cookies, and re-open TurboTax in an 'incognito' browser window and try efiling again.    If you're still rejected for the IP PIN, call the IRS at 800-908-4490 (from the IP PIN site) or the main number 800-829-1040, or Contact TurboTax Support.  This is definitely an IRS issue; we definitely don't want you to have to mail your return.   @turbotaxisterrible 

Thanks!  Yes, I recaptured the depreciation when I was first entering the data (as additions to and then subtractions from the basis) and the tile was all fully depreciated at least 15 years ago.  Maybe I should've just reported the sale property as raw land and just entered the adjusted numbers, but TT seemed to indicate I need to describe it as a certain Section (1231, 1250, etc), so I figured I better include all that information.   What seems to have messed me up was in the Federal Review section, when TT was asking me for specific line entries that were never even covered in the Interview portion (this is a real and persistent problem with TT -- the Review really needs to include links taking you back into the interview so you have some context about what random blank line it's asking about).  Suddenly my tax was changing from an $8k refund to a $110k amount due -- as if it weren't even an installment sale anymore.  I have no idea how to troubleshoot that, so figured I should just re-enter the data fresh.

I've largely gotten my questions and concerns addressed elsewhere, as your knee-jerk responses have been consistently prosy, critical of folks asking honest questions, and largely unhelpful. Try harder. 

If you want to know should you sue, ask an attorney.   If you received a financial settlement, then any part of the settlement that is for lost wages or lost income is taxable as if it was normal income.  Any part of the settlement that is for a physical injury, or for pain and suffering due to a physical injury, is not taxable.  

So sorry for your issue with TT.  It sure is frustrating when you lose your tax returns after completion.  With so many people having this issue, I do not know how TT cannot admit guilt.  I wonder how many other people have lost their tax returns and not reported that on the community website.  I can see lots of their customers not purchasing TT again next year.   S. Kimel

Possible options:  Enter your Total Cumulative Capital Gains + Qualified Dividends into the "Qualified Dividends" box and enter $0 in the "Capital Gain" box,  Low risk, as the IRS only sees the final tax number on Line 14, not the sub-breakdown of that specific calculation. Switch to desktop and override the values. You can pickup where you left off.

Follow these steps to enter the Home Energy Credit for your Heat Pump:   Go to Deductions and credits summary on the left side menu. Click Edit for Home Energy Credits on the list of Your tax breaks On the Energy efficient home improvements screen, answer Yes, we made these energy efficient improvements or have a carryforward, then Continue On Energy-efficient improvements for your home, you would answer Yes, our home is in the U.S.  If the answer is No, then no credit is available to you.  Click Continue. Once you get to Did you have any of these residential energy property costs in 2025? where Heat pump is listed as an option, select Yes, we made these residential energy property improvements. On the Tell us more about the residential energy property, the 1st question about the property being installed with a home in the US and the 3rd question about Was the qualified energy property originally placed in service by you? need to be answered Yes. You will need the QMID code of the manufacturer of the heat pump.  You will enter that code in the left box and the cost of the heat pump in the right box.  Click Continue This should allow you go get the energy credit.  The credit is limited to your tax liability, so if you have no tax liability, then you will not get any credit.  Keep all documentation that you were given about the heat pump that show that it is qualified for the tax credit as proof that you are eligible for claiming the credit.

As you've deduced, Cost of Goods Sold (COGS) is related only to inventory.   Other expenses will count as expenses for your business, but COGS is your beginning inventory plus purchases and minus ending inventory.   Your general business expenses and your inventory expense (COGS) are calculated separately.  Just take care not to enter the same amounts in both places. Only the costs directly associated with the goods that you sell are factored into the COGS numbers.  If you manufacture the goods this can include raw material and factory labor. If you purchase for resale then the purchases are your primary expenditure that is calculated here.