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derelict
February 16, 2023
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One last question about deductible items after selling house

  • February 16, 2023
  • 1 reply
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I recently had a series of discussions here, about deductions on a house that I sold last year in Fremont, CA, USA.  I got alot of useful help from several people, including @Carl11_2 ... I though I was done, but there is still one item on the SFSS (Final Settlement Statement) that I'm uncertain about; I was initially going to skip this item, but wanted to run it past you folks here one more time, since it is fairly sizeable...

The item is:
Reimbursement for Home Preparation to Carlos Padilla (my agent for the sale): $29,834.41
This was expenses for things such as painting, removing carpet and tile floors and refreshing hardwood floors, repair of defects found during inspections, etc, all in preparation for selling the house. 
Can I in fact deduct this expense item??

    Best answer by MinhT1

    Yes. You can add this cost to your cost basis which will in fact reduce your capital gain.

    1 reply

    MinhT1Answer
    February 16, 2023

    Yes. You can add this cost to your cost basis which will in fact reduce your capital gain.

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    derelict
    derelictAuthor
    February 16, 2023

    Cool... thank you for the prompt response!