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willscar7
New Member

I built my second home. How do I get credit for $ put into it?

Self built second home:  How do I receive credit for # put into it before selling it?

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Coleen3
Intuit Alumni

I built my second home. How do I get credit for $ put into it?

It counts as the basis of your home. When you sell it, you will compare the basis to the sale price to determine gain.

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1 Reply
Coleen3
Intuit Alumni

I built my second home. How do I get credit for $ put into it?

It counts as the basis of your home. When you sell it, you will compare the basis to the sale price to determine gain.

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