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kjzlane
New Member

If gain on sale of my home was less than $250K, is there any point or additional gain to my return to still enter all the home improvements dating back over decade?

TurboTax determined my gain was under the 250K and I met all qualifications to not be taxed on gain EVEN BEFORE I attempted to enter any home improvements. There was a major home/kitchen removation in 2007 and then all the home improvements to prepare for sale. I have most collected but some particularly from 2007 would take significant time to find. Is there any point in my doing this?
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ThomasM
New Member

If gain on sale of my home was less than $250K, is there any point or additional gain to my return to still enter all the home improvements dating back over decade?

No, there's no point.  If you've already gone thru the entry process and the entire gain is being excluded, then reducing the gain achieves nothing.

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ThomasM
New Member

If gain on sale of my home was less than $250K, is there any point or additional gain to my return to still enter all the home improvements dating back over decade?

No, there's no point.  If you've already gone thru the entry process and the entire gain is being excluded, then reducing the gain achieves nothing.

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