JulieS
Expert Alumni

Get your taxes done using TurboTax

Yes, this cost is a sales expense and will reduce your gain.

 

This is how to enter it in TurboTax Home & Business:

 

  1. Select Personal from the top row of tabs, then Personal Income,  toward the upper left corner. 
  2. Click I'll choose what I work on, on the right.
  3. Scroll down and look for Investment Income.
  4. Click on Start or Update to the right of Stocks, Mutual Funds, Bonds, Other.
  5. If you have already entered the sale here, click Edit to the right of your entry.
  6. If you have not yet entered the sale, click Add More Sales.
  7. Answer the first question No.
  8. On the screen, Tell us about this sale, pick the first option, I'll enter one sale at a time. 
  9. Fill in your information about the sale. For Holding period select C if you owned to home less than one year or F if you owned the home more than one year. 
  10. Continue until you get to Select any less common adjustments that apply. 
  11. Select the first option and enter your sales expenses.
  12. If the sale was a loss, also select the fifth option and indicate the property is a personal use property. 

 

 

 

 

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