This is from my graduate level differential geometry class.
Let $M$ be a closed manifold. I am trying to calculate $H^*(M - \{ p \})$ in terms of $H^*$.
Here is what I have so far: We know from excision theorem that the cohomology of the punctured manifold $M - \{ p \}$ can be computed using the long exact sequence of $(M, M - \{ p \})$ given by
$$ \cdots \to H^n(M, M - \{ p \}) \to H^n(M) \to H^n(M - \{ p \}) \to H^{n+1}(M, M - \{ p \}) \to H^{n+1}(M, M - \{ p \}) \to \cdots $$
Since $M$ is a closed manifold and $\{ p \}$ is a single point, we have that $H^n(M, M - \{ p \})$ is isomorphic to the reduced cohomology $\tilde{H}^{n-1}(S^{n-1})$. Thus we have $$ \cdots \to \tilde{H}^{n-1}(S^{n-1}) \to H^n(M) \to H^n(M - \{ p \}) \to \tilde{H}^n(S^n) \to \cdots$$
From this sequence, we have that $H^n(M - \{ p \})$ is isomorphic to $H^n(M)$ for $n \neq m-1, m$ where $m$ is the dimension of $M$, and there is an exact sequence $$ 0 \to H^{m-1}(M) \to H^{m-1}(M - \{ p \}) \to \mathbb Z \to H^m(M) \to H^m(M - \{ p \}) \to 0.$$
This gives the cohomology of $M - \{p\}$ in terms of the cohomology of $M$.
I am wondering if what I have so far is correct. If you could let me know where I can improve on and/or fix my mistake if there is any, that would be great.
Apart from the small things mentioned in the comments and the fact that it makes no use of the assumption that $M$ is closed, the proof looks fine to me. However, concluding with a long exact sequence feels somewhat weak here, and in fact if you know a little more about the (co)homology of closed manifolds you can take the argument a little bit further:
Let's consider the analogous exact sequence in homology $$ 0 \to H_m(M \setminus \{p\}) \to H_m(M) \overset{r_*}{\to} \underbrace{H_m(M, M \setminus \{p\})}_{\cong \mathbb{Z}} \to H_{m - 1}(M \setminus \{p\}) \to H_{m - 1}(M) \to 0 $$ where $r\colon (M, \emptyset) \to (M, M \setminus \{p\})$ is the restriction map. By the restriction theorem (cf. Hatcher, Algebraic Topology, Theorem 3.26), we only have to distinguish two cases:
However, this short exact sequence is in a sense the best we can do: Consider $M = \mathbb{R}\mathrm{P}^2$ with its standard CW-structure obtained from attaching a 2-cell to $\mathbb{R}\mathrm{P}^1 = S^1$. Let $x \in M$ be a point in the interior of this 2-cell so that $M \setminus \{x\}$ deformation retracts onto $S^1$. We then obtain the sequence $$ 0 \to \mathbb{Z} \to \underbrace{H_1(S^1)}_{\mathbb{Z}} \to \underbrace{H_1(\mathbb{R}\mathrm{P}^2)}_{\mathbb{Z} / 2} \to 0 $$ which does not split.
I'll leave it to you to derive analogous statements in cohomology via the universal coefficient theorem (don't expect them to be quite as clean) :)