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I have sold a vacation property in Florida. It was never rented. Where can I obtain a list of all expenses that are eligible to reduce the capital gain?
Hi Karen, selling costs can be deducted to reduce the capital gain realized upon the sale. Selling costs include:
– commissions paid to a realtor
– legal fees paid to a lawyer
– repair expenses incurred to make the property ready for sale
– land transfer fees (sometimes called stamp taxes)
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