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Sale of a second home

harvx's Avatar

Join Date: Oct 2006
Posts: 85

03-02-18, 05:55 AM   #1  
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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Bud9051's Avatar

Join Date: Oct 2008
Posts: 9,743

03-02-18, 06:29 AM   #2  
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.


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