The facts are as follows:
My questions are as follows:
Thank you in advance for your help!
You'll need to sign in or create an account to connect with an expert.
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
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
FlowersRamona1234
New Member
Johnny 5
New Member
CB2012
New Member
thom-are
New Member
AM Choudry
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.