in [Event] Ask the Experts: Investments: Stocks, Crypto, & More
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Inherited a home and sold for more than fair market value. Can I deduct the selling costs to offset the gain? If yes how do you enter the selling costs as TurboTax does not prompt to enter selling costs. I am entering in Investment Income(Bonds, Stocks) section.
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Yes, those costs are deductible. Subtract the sales expenses from your total proceeds and enter that figure into TurboTax.
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