I sold a Co-Op(main home) in 2016 in NYS(NYC), my profit on it was much less than the $250k TT mentions. I did not recieve the 1099-S TT asks for. Do I have to report it?

[bill7420]

Also, I had improvements/renovations to the property, is there a way to deduct those?

[donferg1332 · Accepted solution]

The profit on the same is exempted because of the value.  The only use for the improvements expenses would have been to reduce the profit below the $250K.  Since it is already there ,there's no use for those expenses.

Regards,  Don

[bill7420]

Thankyou Don !