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Level 1
posted Mar 17, 2022 5:04:49 PM

I sold my house and know I must complete Form 8949 ans Schedule D. Is there a current worksheet available for Form 8949 that includes a valid list of sales expense items?

0 4 767
4 Replies
Expert Alumni
Mar 17, 2022 8:36:26 PM

No, there's not really a worksheet with a comprehensive list of all the valid sales expense items.  At least not that I am aware of.  The sales expenses you can use to reduce the proceeds from the sale of your house is just about anything you spent to facilitate the sale.  This would include amounts you paid at closing (commissions, closing costs, courier fees) any marketing expenses, etc.  If spent money on the property to get it ready to sell such as painting, repairs, etc. those would be added to your basis.  Basically, if you spent money to get it ready to sell, add it to your basis, if you spent money to market it and/or sell, reduce your proceeds.

Level 1
Mar 18, 2022 1:43:23 PM

Thanks for the response.  I know there are other things that can be used to offset the gross sales or increase the basis (more than your list, even) - I just wish turbotax would create a robust worksheet and incorporate it with our online filing of income tax when we're dealing with this issue in a given tax year. Otherwise, we just have to piece it together ourselves with info from multiple IRS publications. 

Level 15
Mar 18, 2022 1:48:14 PM

@nomorenewusernames All the worksheets and information needed for a personal home sale are in the IRS Publication 523 Selling Your Home - https://www.irs.gov/pub/irs-pdf/p523.pdf

Level 1
Mar 18, 2022 1:50:33 PM

Yes, I have that. Again, Turbotax should create worksheets for us to use as we're going through the steps to file online.