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Questions and Discussion Relative to Pralana Online's "Build" Features
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Topic starter October 24, 2024 12:28 pm
I converted to the online version with a plan start date of 1-1-24. I have added the original cost of home during 2020. To capture capital improvements PRIOR to 1-1-24, do I change the original cost of the home in the Property tab or do I enter the actual date of improvement (say 2023) in the Year field of Improvement tab?
October 24, 2024 2:50 pm
@patton525 If the improvements are in a prior year, just add them to the cost basis (what you paid). The Improvements tab is for current and future years. It just accounts for the expense and will add it to your basis going forward for those years.
Ted Romer and Richard Patton reacted
