Hello!
We moved from CA to TN in Dec 2021. In Dec 2021 we purchased a home in TN for 612K. In July 2022 we ended up selling our TN home for 725K (and moving out of state again). It ended up being a gain of almost $128K in less than 1 year, but more than 6 mos.
How can we lower our short term capital gains taxes that we'll owe this coming tax season?
Can we deduct home improvements? How about the down payment and other home buying requirements made in Dec 2021? Can we deduct anything from when we sold the house in July 2022?
Thank you!
