You are allowed to deduct from the sales price selling expenses, such as:
- advertising
- appraisal fees
- attorney fees
- closing fees
- document preparation fees
- escrow fees
- mortgage satisfaction fees
- notary fees
- points paid by seller to obtain financing for buyer
- real estate broker's commission
- etc.
You can increase your cost basis by the amount of any improvements (not repairs) you made to the property.
Things like utility bills, pest control, etc are not deductible.
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