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Deductions & credits
Your gain or loss on a home sale has nothing to do with a mortgage or a down payment.
Selling Price minus Selling Expenses minus Adjusted Basis of Home (Purchase price plus Improvements) equals Gain or Loss
See IRS Publication 523 Selling Your Home - https://www.irs.gov/pub/irs-pdf/p523.pdf
‎August 22, 2019
3:52 AM
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