Hello, Did you get the answer to this? It seems most answers skirt the real question. My tax accountant said the expense will lower the amount of tax on the gain, but as an example, the 5K in expenses will only net the % of your tax status, I.e. if you are at a 20% effective tax rate then the 5K will only reduce by $1000, but the 20K gain will have been taxed at short or long term %, whatever that ends up being for your situation.
I am still looking for a good business to offset my capital gains on a real estate sale.
