We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

pbrown7 · ‎June 4, 2019

We just want to know if we really need to save all the paper receipts. To backup our claim of capital-improvement-basis-adjustments on the basis value of the home.

KatrinaB · ‎June 4, 2019

I would keep all related receipts in a folder. that way you can correctly determine your basis upon sale. Please view the Turbo Tax FAQ below, fro more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Home-Improvements-and-Your-Taxes/INF12...

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KatrinaB · ‎June 4, 2019

I would keep all related receipts in a folder. that way you can correctly determine your basis upon sale. Please view the Turbo Tax FAQ below, fro more information.

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Home-Improvements-and-Your-Taxes/INF12...

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We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

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We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

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We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

We will be selling our primary residence in about 10 years. Do we need to save all the receipts for capital improvements we have made? (To adjust basis value?)

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