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mmcclure01
New Member

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

I see that there are several fees, added costs, and other expenses that can be used to ease my tax burden. Since I dont have paperwork from the purchase, can I estimate these?  What other options are open to me?
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BobinCT
Level 7

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

If it was your main home for at least 24 months during the last five years, you will owe no tax (the first 250,000 of profit is exempt).  Unless you get a 1099-S you don't even report the sale on your tax return.

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6 Replies
BobinCT
Level 7

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

Do you think you had a profit of over $250,000?  Did you get a Form 1099-S?
mmcclure01
New Member

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

no. profit was approximately $28,000
mmcclure01
New Member

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

thank you!
BobinCT
Level 7

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

You are welcome.  Always happy to deliver good news.
BobinCT
Level 7

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

If it was your main home for at least 24 months during the last five years, you will owe no tax (the first 250,000 of profit is exempt).  Unless you get a 1099-S you don't even report the sale on your tax return.

hecker_winey
New Member

I sold my home in 2017, I want to the Adjusted Cost Basis to offset the sale profit mad. I purchased the home in 2010 and I don't have the paperwork that reflects costs?

What if we didn't like in the house since 2010 and we don't have the paperwork from when we bought it in 1984?

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