Sale of Primary Home - No Tax Due - Are Sale Expenses Still Deductible?

Artemis VA · ‎February 25, 2022

We sold our 20+ year primary residence and bought a higher priced primary residence. It appears that we do not owe taxes on the sale. Can we still deduct the expenses associated with the home sale - or are those deductions only associated with any taxes that may have been due on the sale?

Thanks!

xmasbaby0 · ‎February 25, 2022

Those expenses would only be associated with any tax you owe. You cannot deduct them if you do not owe tax for the sale of the house.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Artemis VA · ‎February 25, 2022

Thanks!

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Sale of Primary Home - No Tax Due - Are Sale Expenses Still Deductible?