Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 6:29:19 PM

Can I enter purchase price of land as "original cost" and then the cost of the house as "total improvement" to add up to total cost basis for sale of second home?

0 1 497
1 Replies
Expert Alumni
Jun 4, 2019 6:29:20 PM

When entering Original Cost, enter the sum of the land cost plus the cost of the house.  

Total Improvements refers to things such as: 

- Replace the entire roof of your vacation home.

 - Install a new transmission in an antique car.

 - Remodel the kitchen of the condominium that your child lives in while at college.