tmoon
New Member

I bought a house & flipped it 2 months later. This was a one time deal. I' m not in the flipping business. What SELLING expenses can I write off & where to I enter them?

The1099S showed gross proceeds. I paid $35625 in realtor fees, $900 in real estate taxes, $5625 in transfer tax and $80 misc. fees (notary, courier). Can all of this be expensed? Is any/all of this subject to the 2% rule for misc. deductions?  Where do I enter my expenses on Turbo Tax Premier?