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Investors & landlords
Yes, the "sales expenses" is what they are, and the only place you need to report the total. Note that on the actual forms that get filed, only that total is reported on SCH D, line 8b, column g. Then, only the total of the SCH D is transferred to the 1040.
The IRS only sees totals. You only need the worksheets (and maybe receipts as proof) if you actually get audited on the sale. chances of that are low, unless something else on your tax return gives the IRS a reason to take a closer look.
‎February 8, 2023
4:02 PM