Get your taxes done using TurboTax
There are 2 methods by which you can include the closing costs to reduce your gain. The easiest first of all would be to add the total costs that you incurred and then add them to the total cost basis of the property sold and enter that number as the cost basis. The second is to add them as additional sales expenses as shown on the screen capture below:
This should bring the net sales proceeds down to what you actually received.
