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srzi
Returning Member

Sold home in 2022 - where to deduct home improvement costs?

Sold a home in 2022, where do I list costs to improvements the home that would reduce the tax on the capital gains over $250K

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4 Replies
srzi
Returning Member

Sold home in 2022 - where to deduct home improvement costs?

I understood the improvements I made to the home to sell it would reduce the capital gains tax burden. I do not see a place to add these costs.

Sold home in 2022 - where to deduct home improvement costs?

You just add capital improvements cost to your cost basis and report that adjusted basis on your return.  Keep the details for your records. 

srzi
Returning Member

Sold home in 2022 - where to deduct home improvement costs?

I'm working with the Turbotax software, I don't see how to report this adjustment.  Can you offer any further recommendation based on options available in the Turbotax software?

srzi
Returning Member

Sold home in 2022 - where to deduct home improvement costs?

Thank you, I was able to sort this out. 

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