Question

I need help with capital gains. We're selling our home and will make a profit of 100k before the two year mark and moving out of state MO-MN. I have questions

Forum|Forum|4 years ago
April 4, 2022
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TurboTax Deluxe Online

Please clarify. What are your questions?

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B

bcwormington2014Author

Thanks so much.

We are selling our home before the 2 year mark. We are hopefully going to make 100k but want to avoid capital gains. Any suggestions?

V

Vanessa A

If you took the exclusion less than 2 years ago, you would not be able to take another exclusion.

Your best way to minimize your profit and capital gains is to include all of your selling expenses, improvements and original purchase costs such as title costs and settlement costs as part of your cost basis which will decrease your capital gains.

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I need help with capital gains. We're selling our home and will make a profit of 100k before the two year mark and moving out of state MO-MN. I have questions

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