Are there things that can be written off your taxes when selling your home? For some reason, I'm thinking there is, but not sure about it. We've done quite a bit of 'unseen' work to our home in the process of selling it, plus the sale. Any info? I want to make sure that I make copies of all the invoices I'll leave with the buyer. TIA

By Karen~admin on Sunday, July 13, 2008 - 10:22 am:

Deanna, if you have a tax accountant/CPA, they would be the best person to answer your question. I think *improvements* to the house can be added to the cost basis of the house (*On paper* - you want to increase the amount you PAID for the house, thereby DECREASING your profit upon selling). I know we have some info somewhere on this, I'll look for it and post it.

By Karen~admin on Sunday, July 13, 2008 - 10:28 am:

OK - here is a link to Publication 523 on the IRS website that gives specific information on what I *think* you are looking for. Note that this particular publication is dated 2007 - so there are likely updates to it.

By Reds9298 on Monday, July 14, 2008 - 07:47 pm:

Thanks Karen!

By Karen~admin on Tuesday, July 15, 2008 - 07:22 pm:

You are welcome!