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Capital Gain

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minibebu

Junior Member
What is the name of your state?WA

I am selling my home and I have lived there for 1.5 years. Moving to shorten the distance of my drive to work by 20 miles. What do I get to subtract from the sales price before IRS figures out what my gain is?
Do I get to deduct excise/transfer tax?
Do I get to deduct agent's commission?
Do I get to deduct any closing cost that I would be paying for the buyer?
 


abezon

Senior Member
Whatever you paid for the house, including closing costs that were not deducted on that year's Sch.A, any improvements, & any repairs you made shortly before sale to spruce up the place.
yes
yes
yes
 

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