Deductions & credits


@juniperlongnlean wrote:
Do I need anything specific?

Ensure that you have ready access to closing statements from when you purchased the house as well as any and all receipts/invoices for improvements made to the house during your period of ownership.

 

Also, be aware that if you owned the house and used it as your primary residence for two out of the last five years leading up to the sale you would ordinarily qualify for the Section 121 exclusion from gain (up to $250,000). 

 

See https://www.irs.gov/taxtopics/tc701