The costs of replacing the septic system, plumbing and heating items are not strictly speaking selling expenses. They are added to the cost basis of your home.
For your information:
Sales expenses include:
- commissions
- appraisal fees
- broker's fees
- legal fees
- advertising fees
- home inspection reports
- title insurance
- transfer taxes or fees
- geological surveys
- loan charges (points) or other fees paid on the buyer's behalf
Sales expenses do not include:
- mortgage payoffs
- home equity loan payoffs
- rent-back costs
- payoff to creditors
- property taxes
- homeowners' association fees
In TurboTax, selling expenses are not entered separately from the cost basis. They are added to the cost basis and entered as a lump sum (see attached screenshot),
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