RossP88
Expert Alumni

Get your taxes done using TurboTax

Hi!

1. Any major improvements to the property. For instance, if you did any major remodeling of any part of your home, that could be included in the cost basis to reduce gains.

2. Unless you are active duty military, moving expenses are largely non-deductible since the passage of the Tax Cut Jobs Act of 2017.

3.  In order to claim two 250,000 dollar exclusions you would need to file separately. Alternatively, you could claim the full 500,000 exclusion and rent/hold the other property for 2 years while the waiting period resets and then sell the second property to exclude 500,000 dollars more in potential capital gains. 

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