HI: I need to know which form and where to find it for reporting the sale of our home and We proceeded to purchase a new one and invested our proceeds in a new house. Aso we made lots of upgrades to the house when we purchased it origin; since it was not liveable at that time. I'm sure they (renovations) can be included as part of our investment. Are closing costs for the sale also deductible?
I am familiar with turbotax and have been using it for a while, at least 5 years and very happy with it sofar.
I really appreciate your help, we asked for an extension and need to get our taxes done by the middle of next month.
I read that there is a ceiling on capital gains of $250,000 before you're taxed. true or false? our gains are 90,000 net.. thank you.
