Solved: I carried forward the gain from home sale 1993. This year I sold the home. Do I need to reduce the purchase price of that home by the gain carried forward?
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benprice212
New Member

I carried forward the gain from home sale 1993. This year I sold the home. Do I need to reduce the purchase price of that home by the gain carried forward?

 
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Anita01
New Member

I carried forward the gain from home sale 1993. This year I sold the home. Do I need to reduce the purchase price of that home by the gain carried forward?

You would need to reduce your cost basis  in the house, not the sale price.

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2 Replies
Anita01
New Member

I carried forward the gain from home sale 1993. This year I sold the home. Do I need to reduce the purchase price of that home by the gain carried forward?

You would need to reduce your cost basis  in the house, not the sale price.

View solution in original post

benprice212
New Member

I carried forward the gain from home sale 1993. This year I sold the home. Do I need to reduce the purchase price of that home by the gain carried forward?

The adjusted cost guide included the answer 3 screens into the process.
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