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Deductions & credits
your calculation of the exclusion is correct.
the washer/dryer etc could be added to the cost basis but it may not be needed
say:
1)the sales price of the home is $250K
2) selling expenses and closing costs are $X
3) tax basis of the home including closing costs on the purchase are $Y
4) the gain is $250K less ($X + $Y)
the taxable portion of the gain if any would be reduced by the exclusion of about $170K
so if $X and $Y exceed $80K there should be no taxable gain.
you can not take a loss on the sale of your personal residence (this would include appliances, etc )
want more info. read IRS PUB 523 - selling your home
https://www.irs.gov/pub/irs-pdf/p523.pdf
May 23, 2022
1:18 PM