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Deductions & credits
If your gain is not anywhere near $500,000, don't worry about it. The $500,000 exclusion will cover it.
If your gain may be higher than that, an appraisal may not work. That just shows the value of the home, but because you constructed it, your cost could be noticeably lower than the appraised value.
‎April 12, 2022
12:13 PM