- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
When you sell a home, you can deduct costs associated with selling that home whether you claim the standard deduction, or you itemize; costs associated with selling your house are deducted from the sales proceeds that are claimed on Schedule D.
Typical costs that are deducted from the sales proceeds when one sells one's house are:
-Selling costs
-Home improvements and repairs getting the house ready for sale.
-Any capital improvements made to the home
-The amount that you originally paid for the home when you purchased it.
For more detail, please see https://turbotax.intuit.com/tax-tips/home-ownership/tax-aspects-of-home-ownership-selling-a-home/L6t...
‎October 30, 2024
12:30 PM