Submitted By: someone
Answered: March 23, 2018 2:05 am

I sold my home in 2017 but don’t have documents to show the cost of improvements I made over the years. What should I do?

In order to add the cost of capital improvements (an addition on the home, a new furnace or roof) to your basis, you need documentation. If you don’t have receipts for your expenditures, try getting what you need in another way. For example, contact the contractor or vendor you used for a sprinkler system, new carpeting, or any other improvement and ask for a copy of a paid receipt.

Tax Glossary

Miscellaneous itemized deductions

Generally, itemized deductions for job and investment expenses subject to a 2% of adjusted gross income floor.

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