The facts are as follows:
My questions are as follows:
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Please can one of the experts here help with this! I am in need to get my return done as soon as possible and take it to the post office in the next three hours. @Critter-3? @AmyC? @AmyC
You bought a house $250k. Added $200k in improvements and sold it for $500k. It goes on Sch D as sale of second home or other home. You can also add the allowed closing expenses from the purchase and sale.
Reference:
Where do I enter the sale of a second home, an inherited home, or land on my 2023 taxes?
About Publication 544, Sales and Other Dispositions of Assets
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