Bought and then Sold vacant land put in improvements before selling, held 2 yrs. How do I write off my improvements or invested money in the property?
Bought & Sold vacant land held 2 yrs. I put some improvements into it before selling. How do I write off my improvements in the property? Turbotax wants to only know what I paid and what I received upon selling.
01230
1 Replies
JosephF8
Expert Alumni
Jan 27, 2020 7:51:55 AM
Entering the sale of vacant land.
On the page that says Enter Cost Information.
Under Original Cost Information.
Include here your total basis in the property. (including improvements)