Which Items are Tax Deductible when Selling a House?
When you list your house on the market, you’re probably thinking about how much money you’ll make or where you want to move next, not about your taxes. A home sale does have tax implications which can either help or hurt you in April.
Find out everything you need to know about selling a house and personal income taxes before you plan on spending the profits from selling your home.
Which Common Home Selling Costs are Deductible?
Not all of the costs related to a home sale are deductible. Here are the costs which can be used to offset any profit and reduce your tax burden.