Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

darring · ‎May 17, 2022

rjs · ‎May 17, 2022

See "Basis Adjustments—Details and Exceptions" in IRS Publication 523, Selling Your Home.

Mike9241 · ‎May 17, 2022

why are you selling? under certain conditions, a partial exclusion may be available.

SweetieJean · ‎May 18, 2022

Please ask your TT Live rep.

xmasbaby0 · ‎May 18, 2022

You are posting from TurboTax Live. You can arrange for the Live help you are paying the extra fee for with your questions from 5 a.m. to 9 p.m. Pacific time.

https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

**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.**

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Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

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Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

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Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

Selling primary residence for $80K gain 16 months after purchase. Want to adjust cost basis to reduce capital gains tax. What adjustments are allowed?

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