- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Hello. I wanted to see if anything has changed as far as the rules on this question. I recently sold a primary residence that I owned for less than 2 years. The buyer demanded a home warranty as part of the contract after the home inspection phase. My tax person said I CAN include the home warranty expense as part of my “selling expenses” to lessen my capital gains, along with me also giving the buyer a $5,000 seller credit towards her closing costs. I realize tax laws change from year to year so just wanted to see if this is why I am getting different guidance.
May 1, 2021
10:06 AM