treasur2
Level 3

New client. The parent dies in 2022, PR is son. Son, PR, has come to me.

House got an appraisal, and sold, at a loss. 1099-S issued with the same value as appraisal. I entered data from both on the "home sale worksheet". All comes up fine, except, PR had refurbishments/repairs/improvements done on the house prior to the sale. All total to line 8, "increases to basis", but not flowing to Part III, bottom of page "adjusted basis of home".

"adjusted basis of home", Part 2, Section A, questions 1.  The figure is data input from 1099-S.

Am I missing something, doesn't the improvements to the capital asset (not rented, or lived in after DOD) increase the basis entered in on Part 2, section A, question 1?  If so, why are improvements ($50k) not flowing and being added to it? Have I checked/not checked some box some where?

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