sold a investment house

[nottelybill]

What is the name of your state (only U.S. law)? Georgia- I purchased a little house about 5 years ago for an investment and sold it last year. Do I treat it like any other investment like stocks and just show cost and sales price? Cost would include all my improvements on the property? I never lived there or rented it.

 

[LdiJ]

What is the name of your state (only U.S. law)? Georgia- I purchased a little house about 5 years ago for an investment and sold it last year. Do I treat it like any other investment like stocks and just show cost and sales price? Cost would include all my improvements on the property? I never lived there or rented it.

Yes, its treated as a capital transaction, just like a stock sale. Yes, the improvements you made to the house would get added to your basis (cost).