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Get your taxes done using TurboTax
If you are under the 500,000 gain limit on your primary home you do not need to show that on your tax return unless you got a 1099-s from the lender. Or if it was a rental or you depreciated a home office.Your closing costs can add to the basis of your house but if you are under the reporting threshhold it does not matter. If you paid real estate taxes those are deductible as a itemized deduction if you itemize. Your second home does not get a exclusion of gain. The repairs you made are not deductible unless this second home was used as a income property . https://ttlc.intuit.com/questions/4504474-taxable-gain-home-sale-exclusion
Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
‎April 1, 2019
3:06 PM