Sale of a second home

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  #1  
Old 03-02-18, 05:55 AM
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Sale of a second home

I was given a second home about 5 years ago. It was my grandmothers who continued living there until she passed away a month ago. I never lived in the home.

I just sold the home. I have the net proceeds from the closing stastement. What expenses can I deduct from the proceeds for tax purposes?
 
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  #2  
Old 03-02-18, 06:29 AM
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Location: New England
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You really need to be talking to your tax advisor as they will not only have the information you are seeking but can combine it with the rest of your income and investments. Actually, you should have been talking to him or her back when you inherited the house, but they can play catch up to some degree.

Bud
 
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