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How do I report the sale of my home

I bought my home in 1989 then tore down the trailer and put a new home in 2000 on the same property how do I report this on the sale of this property in 2017?
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6 Replies
Anita01
New Member

How do I report the sale of my home

Your cost basis on the sale is the original purchase price plus any improvements made since you bought it, so add all those improvement costs to your basis.

How do I report the sale of my home

So My original cost in 1988 for the purchase of the land and mobile home. So when I replaced the mobile home for a manufactured home that would be the improvements?  So I add it all together to input in the section for adjusted cost basis?
Anita01
New Member

How do I report the sale of my home

yes

How do I report the sale of my home

So I am filing out the easy guide so where would I add the cost of the new home in 2000? Sorry this is confusing because of the mortgage of the new home. Do I input in Permanent additions? or where on the easy guide do I input?
Anita01
New Member

How do I report the sale of my home

Date bought or acquired is the original purchase date in 1988.  Permanent improvements are added to the purchase price and entered in Cost Basis.

How do I report the sale of my home

Thanks I found out that I didn't have to use that
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