I sold my house in 2018. But to sell it, I was required to replace the septic tank, install a Randon fan system, and install an arsenic absorber to the water system. Where exactly can I enter this?
You'll need to sign in or create an account to connect with an expert.
The improvements you made are not deductible, but they are added to the cost basis of your house in order to calculate capital gain.
If the home was your primary residence, and you have lived in the residence for two of the past five years, you can exclude capital gain up to $500,000 for joint filers or $250,000 for single filers. If this is the case you don't have to
If you wish to enter the sale of your principal residence in TurboTax to determine if there was a gain, please follow these steps:
Once you've entered all the information, TurboTax will calculate the gain for you.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
barryhh3f
New Member
LakesideGuy
New Member
williamnoto
New Member
Tina-Wallace
New Member
rw28
Level 1