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Investors & landlords
Since you appear to qualify for a partial exclusion of $145,000, based on the need to relocate for a new job, your capital gains will not be taxable because no matter how they are calculated, they are less than $145,000. However, I want to correct several aspects of your calculation, for your benefit as well as future readers.
First, when determining the cost basis for your home, you start with the purchase price and you can add some but not all of your closing costs from the purchase transaction. Allowable closing cost adjustments are listed in publication 523. You must subtract the down payment assistance from your cost basis since that was free money to you. https://www.irs.gov/forms-pubs/about-publication-523
Repairs do not add to the adjusted cost basis, but improvements do increase the cost basis. The difference between an improvement and repair is that a repair maintains the property in as-is condition, while an improvement adds value to the property, makes it better, or extends its useful life and function. For example, fixing a hole in the roof caused by a fallen tree limb is a repair but replacing the roof so you get a new 15 year life out of it is an improvement.
Then when determining the selling price for the capital gain calculation, you may subtract your real estate commission and some of your closing costs but not all of them, again, there is a list of allowable closing costs in publication 523.
Your capital gain appears to be about $40,000 but the exact amount can’t be calculated without knowing more details about the repairs and the closing costs that you listed. But, since you appear to qualify for an exclusion that is well over $40,000, your capital gain will not be taxed in this situation. If you received a 1099S form at the closing, you will still be required to report the sale on your tax return but no tax will be owed.
[Edited to add comment: I corrected some crazy dictation errors. Apparently, talk-to-text is not reliable when you have just had a filling at the dentist and half your mouth is numb.]