Question

Sale of Primary Home - No Tax Due - Are Sale Expenses Still Deductible?

Forum|Forum|4 years ago
February 25, 2022
1 reply
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We sold our 20+ year primary residence and bought a higher priced primary residence. It appears that we do not owe taxes on the sale. Can we still deduct the expenses associated with the home sale - or are those deductions only associated with any taxes that may have been due on the sale?

Thanks!

X

xmasbaby0

Employee

Those expenses would only be associated with any tax you owe. You cannot deduct them if you do not owe tax for the sale of the house.

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