Wife inherited 1/5 interest in her dads house. Fair market value was $121,000. House sold for $130,000. So a $9000 gain. Commission to realtor was $7800. Repairs to house prior to sale totaled $410. Attorney fees and title and closing costs and fees totaled $1737. I assume since the cost of the commission, the repairs and the all the fees totaled more than $9000, we do not have to claim capital gains?
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