You'll need to sign in or create an account to connect with an expert.
It's asking because certain closing costs are added to the purchase price to determine your cost basis, which is used to determine any gain. If it was your primary residence and your are eligible to exclude the gain without it (or you have a loss) , you can enter zero. If the program doesn't want to accept 0.00, then enter 1.00 If you have a taxable gain on the sale you would want to include the costs to reduce your gain.
It's asking because certain closing costs are added to the purchase price to determine your cost basis, which is used to determine any gain. If it was your primary residence and your are eligible to exclude the gain without it (or you have a loss) , you can enter zero. If the program doesn't want to accept 0.00, then enter 1.00 If you have a taxable gain on the sale you would want to include the costs to reduce your gain.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
osgood53
New Member
mosm
New Member
snoblack
Level 2
jl_brooks
Level 1
bruced63
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.