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rjt108
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I sold my home in 2016. I paid realtor commissions and the buyer's closing costs. Where to i enter this?

 
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I sold my home in 2016. I paid realtor commissions and the buyer's closing costs. Where to i enter this?

Expenses for the sale of your home are generally not deductible but are added to the cost basis for determining the capital gain or loss on the home. An exception would be property taxes that you paid that were not reimbursed by the buyer. You would enter them under Federal Taxes, Deductions and Credits, Your Home.

If you lived in the home for at least 2 of the last 5 years ending on the date of the sale, you may be entitled to a capital gain exclusion of up to $250,000 ($500,000 if MFJ) on the sale. If you are eligible for the exclusion and didn't exceed that amount, you don't have to enter the sale on your tax return unless you receive a 1099-S.

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