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Deductions & credits
The numbers are a little fuzzy. $47,066 net proceeds minus cost basis of $45,000 = net taxable gain of $2066.
But 51,000 - 47,066 = $3934 in closing costs, not $5500 or "over 6K".
But 51,000 - 47,066 = $3934 in closing costs, not $5500 or "over 6K".
‎June 4, 2019
9:27 PM