I'm told there is a form associate to Sch D to list the capital improvements made to a second home over a number of years. The house sold in 2020 and this would support the step up in basis
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Thanks for your reply Lisa and, yes I did that. But is there a specific form/worksheet to list the improvements/renovations? Is it even a requirement? I think not, but just want to be sure.
You could open a "Preparer Notes" page (F6 PN will get you there) it transmits with the return. You can create a schedule there if it makes you more comfortable and show your basis computation.
"....step up in basis"
Making improvements to property owned is not "Stepped Up Basis". That's a completely different tax concept.
Words/phrases are important in this business.
Completely agree, sorry for the poor grammatical hygiene.
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