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Get your taxes done using TurboTax
Got it! I only mentioned the HOA fees and the big changes in the rebuilt to add perspective and NOT expecting them to be deductible. So I am guessing that it comes down to: taking the original cost of the home (April 1985) of $67,740.00, adding improvements such as AC, furnace and hot water heater - subtract that from the gross sale price along with the $250,000 exclusion, cost for staging, and ceiling fans and any other allowable adjustments to come up with the total capital gain then taxed at 15%?
‎December 19, 2024
5:43 PM