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Then it is totally not fair at all.  You are telling me that I also have to pay tax for the amount $1726 (property tax deduction during closing).   I sold my 2nd house for $185k and took home the amount ($185k - $1726). You are telling me I have that I can't deduct the property tax amount from the $185k and I have to pay tax for that $1726.  That doesn't make sense at all.  Are you really sure?