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Level 2
posted Mar 10, 2022 11:30:04 AM

I bought house for $7000 9/17/2020. I did not claim it that year. It was unlivable. I have since renovated it and moved in 02/22/2022. How do I treat it now?

I used IRS free turbo tax 2020 and 2021.  I do not remember being asked about purchasing the house.  I am now using the paid version and 2nd question was Did I buy a house in 2022?

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2 Best answers
Level 15
Mar 10, 2022 11:33:03 AM

You don't enter buying a house on your tax return.  It just asked if you bought one so later it will ask if you paid any mortgage interest and property taxes if you want to itemize deductions.

Expert Alumni
Mar 13, 2022 1:44:02 PM

Your Detroit City return is transmitted with your Michigan state return. When your state form gets accepted that includes your city forms.

 

@babylonia33 

6 Replies
Level 15
Mar 10, 2022 11:33:03 AM

You don't enter buying a house on your tax return.  It just asked if you bought one so later it will ask if you paid any mortgage interest and property taxes if you want to itemize deductions.

Level 2
Mar 10, 2022 11:40:05 AM

Thank you.

 

Does that mean I do not have to worry about amending past returns?  and just give the information as if it was this year?

 

I bought the house cash so no mortgage.  Does Turbo tax take that into account or do I just but in the cash amount paid when asked for mortgage amount?

 

Also will Turbo then, ask about the amount paid for renovation. mostly done DIY.

Level 15
Mar 10, 2022 11:45:29 AM

No you don't enter it for mortgage.   You do not enter anything about your house at all on your tax return.  Not until you sell it.  Then the remodel costs will add to your purchase price.  

Level 2
Mar 10, 2022 12:03:59 PM

 

I had hoped the purchase or renovation costs could be used to my benefit on current taxes.

 

Thank you very much for your help.

 

Level 2
Mar 13, 2022 1:12:32 PM

I just submitted my taxes and received confirmation of my Fed. and State returns however there is no mention of my Detroit City taxes anywhere I can find.

 I have not been able to find anything in the forums of how to verify they are submitted or what my next step should be.

Help would be greatly appreciated

Thanks

Expert Alumni
Mar 13, 2022 1:44:02 PM

Your Detroit City return is transmitted with your Michigan state return. When your state form gets accepted that includes your city forms.

 

@babylonia33