I think maybe I need to clarify. The house sold for $425,000. I had selling expenses of $28,000. My cost basis is $351,934.
My calculations are $425,000 less $351,934 less $28,000 = ($45,066) - which is the amount Turbo Tax said I was excluded from paying taxes on.
Schedule D, part II line G is showing ($73,066) which is $ 425,000 less $351,934.
What am I not understanding here?
