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Apr 22, 2018 12:06 am
I have sold a vacation property in Florida. It was never rented. Where can I obtain a list of all expenses that are eligible to reduce the capital gain?
Thanks
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Apr 24, 2018 3:07 pm
Hi Karen, selling costs can be deducted to reduce the capital gain realized upon the sale. Selling costs include:
- commissions paid to a realtor
- legal fees paid to a lawyer
- repair expenses incurred to make the property ready for sale
- land transfer fees (sometimes called stamp taxes)