Sold a piece property where do I add capital improvements to the cost basis

I sold some land. I bought it for 160,000 and sold it for 380,000. I made 40,000 in capital improvements. Where do add the 40,000 to the 160,000 cost basis to bring it up to 200,000?

Do i just add it to the cost basis field in Turbo Tax in the investment section? Or this there another place to add it. I have Turbo Tax Premier.

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1 Best answer

Expert Alumni

Mar 27, 2025 3:58:21 PM

Yes. You just add it to the cost basis field in TurboTax in the investment section. There is no need to do a breakdown, you will just enter the $200,000.

Level 15

Mar 27, 2025 3:58:01 PM

In the investment section of the program just add the cost of the improvements to the cost basis.

Expert Alumni

Mar 27, 2025 3:58:21 PM

Yes. You just add it to the cost basis field in TurboTax in the investment section. There is no need to do a breakdown, you will just enter the $200,000.

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Sold a piece property where do I add capital improvements to the cost basis