Monday, October 19, 2015

A: If you realize a taxable gain after you sell your home, even with an exclusion, you can reduce your gain with selling costs.  These selling costs may include items that are otherwise considered to be repairs – such as painting, wallpapering, even planting flowers – if you complete them within 90 days of your home sale and provided they were completed to make the home more saleable.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com