1325423
Help - I've tried everything to be able to type in the fields of property taxes and medical expenses. I noticed someone else has the same issue! Please help! I want to get done!
You'll need to sign in or create an account to connect with an expert.
Yes, you can get this done. I recommend following these best practices, especially when you are getting unexpected results:
Hello I need assistance with my 2018 taxes. I sold a property on 12/22/2017 in Maryland for sale price of 205,700.00 and received 173,670 after closing. I purchased another property in Montgomery Al on October 6, 2017 in the amount of 97,000.00 for my daughter to live in while attending law school.
where should I add these cost on the tax forms
You would include a sale that occurred in 2017 on your 2017 return. You can amend.
Where you enter it depends on the type of property sold. Was it your primary residence? A second home?
You do not enter the purchase of a property, unless it is a rental property and you collect full rental value for rent. Then amount would be used to determine depreciation.
If it is a second home, you can deduct mortgage interest and property taxes up the the prescribed limits.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
misstax
Level 2
ribatelfath
New Member
lisaplunkett1128
New Member
jjhz
New Member
keithl1
Level 2