Solved: I sold a second home that was for personal use and there were costs in order to put it on the market. Are these deductible? If so where do I claim these expenses
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I sold a second home that was for personal use and there were costs in order to put it on the market. Are these deductible? If so where do I claim these expenses

 
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New Member

I sold a second home that was for personal use and there were costs in order to put it on the market. Are these deductible? If so where do I claim these expenses

There are certain costs you can add to the basis to reduce the gain.

Sales Expenses for selling your property include:

  • Sales commissions
  • Advertising Expenses
  • Legal Fees
  • Broker Fees
  • Transfer taxes

View solution in original post

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New Member

I sold a second home that was for personal use and there were costs in order to put it on the market. Are these deductible? If so where do I claim these expenses

There are certain costs you can add to the basis to reduce the gain.

Sales Expenses for selling your property include:

  • Sales commissions
  • Advertising Expenses
  • Legal Fees
  • Broker Fees
  • Transfer taxes

View solution in original post

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