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We sold an inherited house. How do we account for expenses paid to prepare the house for sale?
We have the cost basis from the Settlement Statement (HUD-1), and know the itemized expenses to prepare for sale. We have accessed the TurboTax section for "sale of a second Home". There does not seem to be a section for itemizing these expenses. The only hint I have seen is to combine them with the inherited cost basis to raise the values to compare with proceeds to determine profit or loss. If this is the correct way to do this, I will still need to document thes expenses for the IRS. How is this accomplished?
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‎June 4, 2019
4:43 PM