DawnC
Expert Alumni

Deductions & credits

You don't need to itemize the costs - they are an adjustment to the basis, so add the improvements to the price you paid for the home.   Enter the proceeds as the net $ you received after commissions and expenses.  Expenses include:

 

  • Any sales commissions 
  • Any advertising fees
  • Any legal fees
  • Any mortgage points or other loan charges you paid that would normally have been the buyer's responsibility
  • Any other fees or costs to sell your home

Home Sales

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