Selling House, Form 8949 - Documenting capital improvements
We will be selling our house in 2025, lived here for 27 years. I do my filing with TurboTax so the question may be moot as the program *might* handle this for me.
We have a ton of capital improvements over the years, so I decided to take a look at the 8949 form to see what I would need to be documenting.
When I took a look at the form (and read the accompanying instructions), it basically says: gross proceeds and cost basis. I don't see anywhere that I document the components of that cost basis.
Is there some other form that I need to use to fill in to document the ~$700K worth of improvements over 27 years or is that something that I do not need to provide unless I am audited?
Also, I am assuming that my real estate fees and any money spent getting the house ready for sale are going to be deductible against the gross proceeds. I'm assuming the former is an expense and the latter is part of the capital improvements as well. Right?